ConvergEx Names Cangemi To Head UK Broker-Dealer

Apr 22 2013 | 2:23pm ET

Technology company ConvergEx Group has named Joseph N. Cangemi to head its UK based broker-dealer, ConvergEx Limited.

Congemi, who assumes the role of CEO subject to the approval of the Financial Conduct Authority, will relocate to London where he will oversee and expand ConvergEx’s European operations. He will also continue in his current role as co-head of electronic equity trading and sales.

Cangemi joined ConvergEx Group through the acquisition of Francis P. Maglio & Co., a firm he co-founded in 1983 and grew to become one of the industry’s top direct access floor brokers. He is a former chair of the Security Traders Association and a past governor of the New York Stock Exchange.

“During his 30 years in the securities business, Joe has played a critical role in helping to shape our industry.  His in-depth knowledge of market structure and the regulatory landscape will be instrumental as he takes on this position,” said Joseph M. Velli, chairman and chief executive officer of ConvergEx Group, in a statement. “Joe also brings a tremendous amount of executive talent and a client-first focus that will benefit our clients and help grow our franchise across the region.”

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