ConvergEx Group has changed the name of NorthPoint Trading Partners, its prime brokerage division, to ConvergEx Prime Services.
The trading technology provider and agency broker acquired NorthPoint Trading Partners in 2009 to offer small- and medium-sized hedge funds access to a full range of boutique prime brokerage services. ???
“Since joining ConvergEx in 2009, our organization has expanded and changed in tremendous ways,” says Douglas Nelson, CEO of ConvergEx Prime Services. “The synergies that have been created have made us truly unique in the prime services industry and allowed us to offer our customers differentiated services and powerful technologies that, previously, could only be accessed by the largest institutions. Our new name is a great expression of our company today.”??
Nelson and Michael DeJarnette, president of ConvergEx Prime Services, will each continue in their respective roles. The business will continue to be based out of Atlanta, Georgia, and all of its clearing and custody arrangements, products, partnerships and projects will continue uninterrupted.
“This name change was a logical step in the evolution of this business and it is a reflection of our commitment to growing and developing it as an integral part of ConvergEx Group,” said Joseph Velli, chairman and CEO of ConvergEx Group.
Reporting by: Janet Du Chenne, Global Custodian, an Asset International publication