NEW YORK, Feb. 15, 2017 /PRNewswire/ -- Convergex, an agency-focused global brokerage and trading related services provider, announced today that it recently hired Robin Strong as Managing Director. Mr. Strong is based out of Convergex's London-based brokerage and will be responsible for expanding the firm's broad range of commission management, research payment and outsourcing services to buy and sell-side investment firms on a global basis.
A 25-year financial industry veteran, Mr. Strong's responsibilities include delivering Westminster Research Associate's unbundling and MiFID II compliant solutions to its growing European client-base. Prior to joining Convergex, Mr. Strong founded The Investment Data Utility and previously worked at Linedata, where he was responsible for business development and client adoption strategies across the EMEA region. Mr. Strong started his career at Salomon Brothers in London and has also held senior positions at Fidessa, Charles River Development, Citadel Associates and Asset Control.
"Robin is a welcome addition to Convergex's experienced European sales team as his vast background and financial industry experience complements the firm's commitment to expanding its global team with the goal of providing more solutions and opportunities to our client-base," said Philip Gough, CEO of Convergex Limited, Convergex's London-based brokerage.
Westminster Research Associates is also preparing for reforms outlined in the Markets in Financial Instruments Directive (MiFID II) which are currently expected to go into effect on January 3, 2018. One of the key delegated directives requires firms to manage payments for research through Research Payment Accounts (RPAs) or to pay for the research directly. Westminster is preparing to work with RPA software providers and to offer a complete RPA solution on a global basis. Mr. Strong will also play an integral role as Westminster expands its platform to allow investment managers to physically aggregate CSA credits within an RPA structure and provide compliant payment solutions to over 7,000 different research providers.
"Westminster's structure provides investment managers with the flexibility to seek best execution through a network of over 250 executing broker-dealers while crediting the research portion of their trade to a centralized account, helping money managers streamline their CSA administration and management," said Chris Tiscornia, President and CEO of Westminster Research Associates.
Westminster is a FINRA registered broker-dealer specializing in providing investment research and commission management solutions to the institutional investment community. The flexible commission management solution allows investment managers to execute through top-tier institutional execution desks, while consolidating all of the administrative, servicing and reporting functions of their research business with one firm.
Convergex is an agency-focused global brokerage and trading related services provider that takes on the industry's toughest challenges, from complicated trades to complex businesses. With clients' interests as the top priority, Convergex delivers comprehensive solutions that span global high-touch and electronic trading, options technologies, prime brokerage, clearing, commission management and beyond. Headquartered in New York with a presence in several other locations including Atlanta, Boston, Chicago, Orlando, San Francisco and London, the company serves nearly 3,000 clients accessing over 100 global market centers.
Convergex is an agency-focused global brokerage and trading related services provider. In the U.S., Convergex offers products and services through Convergex Execution Solutions LLC (member NYSE/FINRA/NFA/SIPC), of which Convergex Prime Services and Options Trading and Technology are divisions; Westminster Research Associates LLC (member FINRA/SIPC); and Convergex Solutions LLC, of which Jaywalk and LDB are divisions. In London, Convergex operates through Convergex Limited, which is incorporated in England and Wales (registered with company number 06262150). Convergex Limited is authorized and regulated by the Financial Conduct Authority (FCA) of the United Kingdom. Westminster Research Associates LLC is regulated in the United States by the U.S. Securities and Exchange Commission. Westminster provides services in Australia pursuant to an exemption from the requirement to hold an Australian financial services license under the Corporations Act 2001 (ASIC Class Order [CO 03/1100]).
Convergex provides brokerage services primarily on an agency basis, but may operate in a riskless principal and/or net trading capacity, and in connection with certain ETF or ADR transactions, may act as principal or engage in hedging strategies. Convergex does not engage in market making or investment banking activities.
The material, data and information (collectively "Convergex Information") that is available from Convergex is intended for institutional investor use only; is for informational purposes only; is subject to change at any time; is not intended to provide tax, legal or investment advice; and does not constitute a solicitation or offer to purchase or sell securities. Convergex Information is believed to be reliable, but Convergex does not warrant its completeness or accuracy and Convergex assumes no duty to update such information. Clients should read their account agreement(s) and documentation with Convergex carefully as those documents contain important information and disclosures about the products or services covered thereby. Convergex is not responsible for third-party information or services, including market data from the exchanges. (Rev. 01/03/17)
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Contact: Lynda Caravello