Bringing you live news and features since 2013
Bringing you news, views and analysis since 2013
shaking hands

13263

ConvergEx Group expands institutional clearing business with four senior hires

RELATED TOPICS​

ConvergEx Group, a provider of global brokerage and trading-related services, is expanding its institutional clearing business. 

 
As a first phase of growing the business, ConvergEx has recently completed the build out of its equities finance desk. ConvergEx’s additional capabilities now include a more robust conduit book; collateral optimisation through more extensive securities lending; and offering third-party and in-house locates.
 
The build out of the institutional clearing business is being overseen by new hire Carmen Sturm, managing director, sell-side services. Sturm comes to ConvergEx from SunGard where she spent the last 13 years. Most recently, she was SunGard Brokerage & Securities Services chief operating officer with responsibility for the institutional clearing business, including operations, sales and stock loan. Sturm reports to Barclay Frey, managing director and co-head of sell-side services at ConvergEx Group.
 
To manage the day-to-day operations of the new services, the following individuals have joined the equities finance desk. All report to Sturm:
 
•             John Nacincik, senior vice president and head the ConvergEx equities finance desk. Nacincik comes to ConvergEx from Knight Capital. Prior to that, he spent 24 years at UBS and five years at SunGard where he set up their equities finance solution, including a locates business.
 
•             Karen deStefani, vice president. For five years at SunGard, deStefani ran the large conduit book and supported the locates business. She was also with UBS for 20 years running their conduit book and ADR/ETF securities lending businesses.
 
•             Darryl Cooke, vice president. Cooke’s experience includes more than 15 years at firms such as Charles Schwab and UBS in securities lending operations as well as Knight and SunGard where he spent four years at the latter in equities finance sales.
 
Thirty-year industry veteran Ray Delgado and his colleague Marcella Broughton remain in their positions on the desk.
 
"We continually invest significant capital and resources so that we can deliver a comprehensive range of solutions that meet the changing needs of our broker-dealer clients," says Joseph M Velli, chairman and chief executive officer of ConvergEx Group. "We believe our clients will benefit greatly from this latest offering and from the talents of these respected industry veterans."

Latest News

GAM Investments and Sun Hung Kai & Co, a Hong Kong-based alternative investment firm, are..
PwC’s Global Entertainment & Media Outlook 2024-28, covering 13 sectors across 53 countries and territories,..
London-based Nickel Digital Asset Management (Nickel) writes that it has delivered a record first half..

Related Articles

Green energy
2024 has been the strongest ever year for green bond sales, with deals topping USD356 billion in the first six months, according to research from Bloomberg...
2024 has been the strongest ever year for green bond sales, with deals topping USD356 billion in the first six..
infrastructure headline
The new Labour government has launched a GBP7.3 billion National Wealth Fund which will target private capital to support the UK’s growth ambitions...
The new Labour government has launched a GBP7.3 billion National Wealth Fund which will target private capital to support the..
Tom McPhail, lang cat
Today’s news of a landslide victory from the UK’s Labour party, finds that the markets had mostly factored in a widely predicted Labour win...
Today’s news of a landslide victory from the UK’s Labour party, finds that the markets had mostly factored in a..
Pensions might not feature at the top of the political parties’ manifesto promises this election, but their role in driving the UK’s growth ambitions is increasingly on investors’ agendas...
Pensions might not feature at the top of the political parties’ manifesto promises this election, but their role in driving..
Subscribe to the Institutional Asset Manager newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by