New York - ConvergEx Group, the provider of brokerage and trading-related services, has announced that it will appoint Joseph N. Cangemi chief executive officer of the firm's UK based broker-dealer, ConvergEx Limited, subject to the approval of the Financial Conduct Authority.
In his new role, Mr. Cangemi will relocate to London where he will be responsible for overseeing and growing ConvergEx's European operations. He will also continue in his current role as co-head of Electronic Equity Trading and Sales.
"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. "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."
Mr. 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. In 2006, he was appointed to the Security Traders Association's (STA) Board of Governors and served as STA treasurer in 2009. In 2010, he served as STA vice chairman and then as STA chairman in 2011. Mr. Cangemi is also a past governor of the New York Stock Exchange.
He is a frequent speaker at various industry conferences and is a member of the SIFMA Equity Markets and Trading Committee. He is also a member of National Organization of Investment Professionals (NOIP).
Mr. Cangemi holds a bachelor's degree in Economics from the University of Rochester. He was the recipient of the Sons of Italy's Golden Lion Award in 2000.