ConvergEx Names 30-Year Industry Veteran as CEO of UK Broker-Dealer Unit

Joseph Cangemi, the longtime executive at ConvergEx, has been named the chief executive officer of ConvergEx Limited, ConvergEx Group's UK based broker-dealer. His appointment is subject to the approval of the Financial Conduct Authority.

Cangemi joined ConvergEx Group when a 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, was acquired by CongergEx, a provider of global brokerage and trading-related services. In his new role, 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," said Joseph M. Velli, chairman and chief executive officer of ConvergEx Group. "His in-depth knowledge of market structure and the regulatory landscape will be instrumental as he takes on this position. 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."

[Joseph Cangemi is an expert on many market structure topics. Last year, he addressed the failures of the equities markets following the Facebook IPO. For more from Cangemi, read: After Facebook IPO, Exchange Focus Shifts to "Crisis Management".]

In 2006, Cangemi 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. Cangemi is a past governor of the New York Stock Exchange. He is a member of the SIFMA Equity Markets and Trading Committee. He is also a member of National Organization of Investment Professionals (NOIP). Greg MacSweeney is editorial director of InformationWeek Financial Services, whose brands include Wall Street & Technology, Bank Systems & Technology, Advanced Trading, and Insurance & Technology. View Full Bio