New York - Convergex, an agency-focused brokerage and trading related services provider, has 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 commission management, research payment and outsourcing services to buy and sell-side investment firms on a global basis.
Mr. Strong's responsibilities include delivering Westminster Research Associate's unbundling and MiFID II compliant solutions to its 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.
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 an 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.