Leadership

Daryl S. Hersch

Chief Executive Officer

Specializing in listed option strategies, Daryl is respected as a “trader’s trader” and has appeared on CNBC and other media outlets. Daryl has almost 40 years’ experience encompassing all aspects of broker-dealer management and trading. Daryl started his securities career as a market maker on the floor of the Chicago Board Options Exchange and subsequently served as head trader for several Wall Street firms before acquiring Celadon in 1996. Daryl serves as chairman of the Celadon Foundation.

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Paul M. Waldman

General Counsel & Chief Compliance Officer

Paul has nearly 40 years’ experience in the securities industry and currently oversees all aspects of legal and compliance for Celadon. Prior to joining the firm in 2010, Paul served in progressively senior legal and compliance roles at Prudential-Bache Securities, Wells Fargo Advisors, and Capital One. Paul is a board member of the Celadon Foundation.

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Nelson Navas

Chief Financial Officer

Nelson joined Celadon in 2007 and is responsible for coordinating the firm’s day-to-day financial accounting functions, including financial standing, accounts receivable, accounts payable, and payroll. Nelson also handles all regulatory reporting for Celadon, inclusive of SEC, FINRA and NFA filings.

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Stephen J. Bologna

Managing Director, Trading

Serving as Celadon’s head trader since 2012, Stephen oversees the firm’s equity and option trading activities. With 25 years’ experience, he is recognized within the trading community as an expert in advanced order management systems, trading desk operations, and deployment of professional trading strategies incorporating algorithms, DMA, and dark pools.

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Joan Ciotola

Operations Manager

Since joining Celadon in 1999, Joan has managed the firm’s operations and served as the firm’s primary point of contact for client engagement. A 40-year veteran of the securities industry, Joan oversees all back-office processes including new accounts, securities deposits, disbursements, and transfers.

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James Davis

Managing Director, Fixed Income

James joined Celadon in 2001 and currently spearheads the firm’s fixed-income activities and strategy. He specializes in sourcing, analyzing, and trading corporate, municipal, mortgage, and special situation bonds. In addition, James works with a select group of Celadon clients, managing a series of CMO portfolios. Prior to joining Celadon, James directed trading desks at leading institutional firms Janney Montgomery Scott and Tucker Anthony.

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Ralph J. Lamberti

Managing Director, Celadon Prime® Division

Ralph joined Celadon in 2020 and now oversees the Celadon Prime® Division. The former CEO and founder of mini prime broker-dealer RJL Capital Group, Ralph brings over 20 years of technology expertise as well as prime brokerage and equity trading experience to Celadon.

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Armand R. Pastine

Senior Managing Director & Head of Capital Markets

Armand joined Celadon in 2021 and serves as the firm’s Head of Capital Markets and Business Advisory. Additionally, Armand oversees the firm’s municipal syndicate activity. Prior to joining Celadon, he spent 30 years directing middle-market business advisory, fixed-income sales, and fixed-income trading operations for firms including Goldman Sachs and Prudential Securities.

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Armand R. Pastine, Senior Managing Director & Head of Capital Markets

Trevor Janis

Sr. Managing Director, OTC Securities Transactions

Trevor joined Celadon in 2015 and focuses on introducing buyers and sellers of non-listed or otherwise illiquid securities. He possesses over 20 years’ experience trading restricted shares, private warrants, contingent value rights, and convertibles.

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Trevor Janis

Sr. Managing Director, OTC Securities Transactions

Armand R. Pastine, Senior Managing Director & Head of Capital Markets

Armand R. Pastine

Senior Managing Director & Head of Capital Markets

Ralph J. Lamberti

Managing Director, Celadon Prime® Division

Daryl S. Hersch

Chief Executive Officer

James Davis

Managing Director, Fixed Income

Joan Ciotola

Operations Manager

Stephen J. Bologna

Managing Director, Trading

Nelson Navas

Chief Financial Officer

Paul M. Waldman

General Counsel & Chief Compliance Officer

Agency Trading

Stephen J. Bologna

Managing Director, Trading

Capital Markets

Armand R. Pastine

Senior Managing Director & Head of Capital Markets

Corporate Office

Trevor Janis

Sr. Managing Director, OTC Securities Transactions

Joan Ciotola

Operations Manager

Nelson Navas

Chief Financial Officer

Paul M. Waldman

General Counsel & Chief Compliance Officer

Daryl S. Hersch

Chief Executive Officer

Fixed Income

James Davis

Managing Director, Fixed Income

Prime Brokerage

Ralph J. Lamberti

Managing Director, Celadon Prime® Division

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