Former Instinet Exec Joins Penson

Clive Triance has been appointed chief executive officer of Penson Financial Services, Penson Worldwide’s London-based clearing and execution services subsidiary.

Previously Triance was chief operating officer of Instinet Europe and has also held positions with Citigroup and Cantor Fitzgerald.

Bryce Engel, executive vice president of Penson Worldwide, said in a company statement, “We are pleased to have a leader of Clive’s caliber to head one of our key operations. Clive shares our vision at Penson to become the world’s leading independent provider of clearing and execution services. With Clive’s experience and knowledge, we expect the PFSL platform to grow impressively as electronic trading in the UK and Europe takes off.”