ESpeed, the electronic bond exchange, has hired Paul Saltzman, previously executive vice-president and general counsel of the Bond Market Association, as its new chief operating officer.

He will succeed Lee Amaitis, who last week was promoted to vice chairman as part of senior management changes which saw Kevin Foley, founder and chief executive of Bloomberg's Tradebook agency broking business, brought in as the company's new president. Saltzman will report to Foley.