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LaBranche Announces Changes in Options Trading Business

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  Published in Business and Finance on Wednesday, January 28th 2009 at 7:26 GMT, Last Modified on 2009-01-28 07:27:11 by Market Wire
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NEW YORK--([ BUSINESS WIRE ])--LaBranche & Co Inc. (NYSE: LAB) (the "Company") today announced that Harsh Padia, the head of its options trading unit and chief investment officer of its LaBranche Structured Products LLC market-making subsidiary, will be leaving the Company, effective March 11, 2009, to pursue other opportunities. Mr. Padia helped build the Company's options market-making business through a period of significant growth. The Company will determine Mr. Padia's successor at a later date.

The Company is the parent of LaBranche & Co. LLC, one of the largest market-makers in exchange-listed securities, LaBranche Structured Holdings, Inc., whose subsidiaries are market-makers in options, exchange-traded funds and futures on various exchanges domestically and internationally, and LaBranche Financial Services, LLC, which provides securities execution and brokerage services to institutional investors.

Certain statements contained in this release, including without limitation, statements containing the words "believes," "intends," "expects," "anticipates," and words of similar import, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Readers are cautioned that any such forward-looking statements are not guarantees of future performance, and since such statements involve risks and uncertainties, the actual results and performance of the Company and the industry may turn out to be materially different from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. The Company also disclaims any obligation to update its view of any such risks or uncertainties or to publicly announce the result of any revisions to the forward-looking statements made in this release.