ConvergEx Grows Its NorthPoint Boutique Prime Services Business

News provided by

Aug 09, 2010, 10:13 ET

NEW YORK, Aug. 9 /PRNewswire/ -- ConvergEx Group, a leading technology company, today announced that it has expanded NorthPoint Trading Partners, its recently acquired boutique prime services business, with four new hires. Michael McLoughlin and Jay Mercier have signed on with NorthPoint's Electronic Execution group and Raoul Scott and Erik Fuchs have joined NorthPoint's Client Serving team. All are based out of Atlanta, GA.

"Since joining forces with ConvergEx, we have been signing on new clients at a record rate while continuing to provide the same level of customer service that we are known for throughout the industry. We have been very pleased with this pace and attribute it to the significantly expanded number of ConvergEx technologies that we have made available to our clients," said Douglas Nelson, chief executive officer of ConvergEx's NorthPoint Trading Partners.

Mr. McLoughlin joins the firm from Prudential Equity Group, a subsidiary of Prudential Financial; Mr. Mercier from YieldQuest Advisors; Mr. Scott from ConvergEx's Eze Castle Software, and Mr. Fuchs from Merrill Lynch.

Commenting on the appointments, Michael DeJarnette, president of NorthPoint Trading Partners, said: "We are thrilled to welcome Michael, Jay, Raoul and Erik to the team. Their years of experience and dedication to excellence will be a valuable resource to our clients while reinforcing our commitment to delivering the highest quality service."

ConvergEx's NorthPoint Trading Partners provides prime brokerage services to hedge funds, family offices, mutual funds and registered investment advisors. By combining boutique firm service and pricing with ConvergEx's state-of-the-art investment technologies and extensive global reach, clients get a package that previously only the largest institutions could access.

ConvergEx acquired NorthPoint Trading Partners in December 2009.

ConvergEx Group is a leading technology company providing products and services to asset managers and financial intermediaries globally. Its products and services span the investment life cycle and center on the development, marketing and servicing of technology-based solutions that enable clients to achieve improved investment results through operational and workflow efficiencies, execution and analytical tools and highly personalized service. The firm serves more than 6,000 institutional clients in 100 global markets. Formed in 2006, the firm has over 1,000 employees in 22 locations throughout the U.S., Europe, Asia, Australia and Africa.

BNY ConvergEx Group, LLC is comprised of the following businesses: BNY ConvergEx Execution Solutions LLC (member NYSE/FINRA/SIPC), LiquidPoint, LLC (member CBOE/SIPC); Eze Castle Transaction Services LLC (member FINRA/SIPC); Westminster Research Associates LLC (member FINRA/SIPC); G-Trade Services LLC (member FINRA/SIPC); NorthPoint Trading Partners, LLC (member FINRA/SIPC); Eze Castle Software LLC, and ConvergEx Research Solutions LLC, of which Jaywalk and Cogent Consulting are divisions. Additional information is available at www.convergex.com.