ConvergEx Prime Services Continues Growth Into 2012

NEW YORK, Feb. 29, 2012 /PRNewswire/ -- ConvergEx Group, a leading technology company, today announced that ConvergEx Prime Services, formerly known as NorthPoint Trading Partners, continues to build on the substantial growth experienced in 2011. With year over year growth in excess of 15% in 2011, ConvergEx Prime Services is well poised to continue to expand throughout 2012 and has increased its staffing by approximately 15% to meet those demands. 

"Customers are more widely beginning to recognize the value of using a prime service provider that is owned by a technology company," said Doug Nelson, chief executive officer of ConvergEx Prime Services. "By leveraging the synergies that were created when we joined ConvergEx, we are able to offer one of the most advanced prime service platforms on the market. Our robust portfolio analytic technologies, along with an enhanced offering for alternative mutual funds, helped the business receive 59 'Best in Class' rankings in the 18th annual Global Custodian survey of the prime brokerage industry and win especially high praise for its exceptional customer service."

"Expanding our capabilities and bringing on additional talent to support key initiatives helped contribute to our growth and another banner year," noted Michael DeJarnette, president of ConvergEx Prime Services.  "By devoting significant resources to our Capital Solutions division, we have more than doubled our capital introduction event calendar for 2012, creating an even more compelling offering for customers."

ConvergEx Prime Services is an industry-leading provider of integrated prime services to Hedge Funds, Family Offices, Mutual Funds, and Registered Investment Advisors. It offers advanced technology, global execution and reporting tools provided by multiple prime custody options through Goldman Sachs Execution and Clearing, L.P., J.P. Morgan Clearing Corp and Pershing LLC. Its customers are exposed to a broad base of long-standing customer relationships with an experienced team providing high quality service and unique advantages in the marketplace.

About ConvergEx Group

ConvergEx Group is a leading technology company providing mission-critical proprietary software products and technology-enabled services to asset managers and financial intermediaries globally.  Its products and services span the investment life cycle and are designed to enable customers to achieve improved results through operational and workflow efficiencies, execution and analytical tools and highly personalized service. The firm serves customers accessing over 100 global markets.  Formed in 2006, the firm has over 1,200 employees in 22 locations throughout the U.S., Europe, Asia, Australia and Africa.

ConvergEx Group includes ConvergEx Execution Solutions LLC (member NYSE/FINRA/SIPC); LiquidPoint, LLC (member CBOE/SIPC); G-Trade Services LLC (member FINRA/SIPC); Westminster Research Associates LLC (member FINRA/SIPC); Eze Castle Transaction Services LLC (member FINRA/SIPC); ConvergEx Prime Services LLC (member FINRA/SIPC); Eze Castle Software LLC; RealTick LLC; ConvergEx Solutions LLC, of which Cogent Consulting, ConnEx, Jaywalk and LDB are divisions; ConvergEx Limited in the UK and Australia; and ConvergEx Asia Pacific Limited in Hong Kong. ConvergEx Group, LLC is a subsidiary of ConvergEx Holdings, LLC.  Additional information is available at www.convergex.com.

Contact: Elizabeth Anderson
[email protected]
212.468.7713

SOURCE ConvergEx Group