ConvergEx Grows its NorthPoint Boutique Prime Services Business

New York - 9 August 2010

ConvergEx Group, a leading technology company, today announced that it has expanded NorthPoint Trading Partners, its recently acquired boutique prime services business, with four new hires. Michael McLoughlin and Jay Mercier have signed on with NorthPoint’s Electronic Execution group and Raoul Scott and Erik Fuchs have joined NorthPoint’s Client Serving team. All are based out of Atlanta, GA.

“Since joining forces with ConvergEx, we have been signing on new clients at a record rate while continuing to provide the same level of customer service that we are known for throughout the industry. We have been very pleased with this pace and attribute it to the significantly expanded number of ConvergEx technologies that we have made available to our clients.” said Douglas Nelson, chief executive officer of ConvergEx’s NorthPoint Trading Partners.

Mr. McLoughlin joins the firm from Prudential Equity Group, a subsidiary of Prudential Financial; Mr. Mercier from YieldQuest Advisors; Mr. Scott from ConvergEx’s Eze Castle Software, and Mr. Fuchs from Merrill Lynch.

Commenting on the appointments, Michael DeJarnette, president of NorthPoint Trading Partners, said: “We are thrilled to welcome Michael, Jay, Raoul and Erik to the team. Their years of experience and dedication to excellence will be a valuable resource to our clients while reinforcing our commitment to delivering the highest quality service.”

ConvergEx’s NorthPoint Trading Partners provides prime brokerage services to hedge funds, family offices, mutual funds and registered investment advisors. By combining boutique firm service and pricing with ConvergEx’s state-of-the-art investment technologies and extensive global reach, clients get a package that previously only the largest institutions could access.

ConvergEx acquired NorthPoint Trading Partners in December 2009.

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