CHICAGO — New York-based Rice Financial Products has promoted chief financial officer Cristal Baron to president as the firm seeks to capitalize on its evolution from a derivatives boutique to a full-service broker-dealer by carving out a bigger chunk of book-running business.

“As the firm has grown, so has the business complexity of managing the firm,” said Donald Rice Jr., who founded the firm 16 years ago and has had the titles of both chief executive officer and president. “It seemed appropriate to separate the management of the day-to-day operations of the firm from the broader strategic direction.”

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.