ConvergEx Group, a provider of global brokerage and trading-related services, has hired Carmen Sturm to oversee its expanding institutional clearing business.
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.
As a first phase of growing the institutional clearing business, ConvergEx recently completed the build-out of its equities finance desk. Managing the day-to-day operations of the new services (and reporting to Strum) will be a number of new hires.
John Nacincik, senior vice president and equities desk head, comes to ConvergEx from Knight Capital, prior to which he spent 24 years at UBS and five years at SunGard.
Karen deStefani, vice president, spent five years at SunGard, after spending 20 years at UBS where she ran their conduit book and ADR/ETF securities lending businesses.
Darryl Cooke, vice president, has over 15 years' experience at firms such as Charles Schwab and UBS in securities lending operations as well as Knight and SunGard.
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,” said 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.”