Back to all announcements

QUADRISERV TAPS FORMER DEUTSCHE BANK PRIME BROKERAGE EXECUTIVE AS CHIEF OPERATING OFFICER

NEW YORK, NY – June 5, 2006 – Quadriserv Inc., a pioneering provider of price transparency and efficiency to the securities lending industry, today announced that Nicky Dawda will become the Company’s chief operating officer. In this capacity, Dawda will oversee operations, sales, business development and the growth of all aspects of the Company’s securities lending initiatives.

Dawda, who was most recently Global Head of Product Development for Execution Services at Deutsche Bank, brings to Quadriserv 17 years of business process, hedge fund service and technology experience in the securities industry guiding complex, multi-year prime brokerage business and technology transition programs.

“Nicky’s extensive expertise in equities execution and risk management, as well as his strong background in the prime brokerage business, provide an ideal complement to our already-strong management team,” stated Joseph Weinhoffer, co-founder and chief executive officer of Quadriserv. “He will have an immediate and positive impact on our company as we continue to build out our services and gain traction with participants looking for the most efficient and profitable way to borrow and lend securities.”

“Hedge funds and institutional lenders are seeking a more cost-effective and transparent means of executing securities lending transactions, and I am deeply impressed with Quadriserv’s leadership within this new marketplace,” said Dawda. “The Company has built an innovative franchise, attracting both hedge funds and institutional lenders looking to drive down the cost of lending securities. I look forward to working with the experienced industry veterans who comprise the Quadriserv management team, and to helping the Company continue to gain traction with its customers.”

Dawda was most recently the Global Head of Product Development for Execution Services within Global Equities at Deutsche Bank covering Equity DMA and Algorithmic Trading, Institutional Cash and Program Trading. In this capacity, Dawda was also responsible for managing Deutsche Bank’s vendors in the Equity Trading and DMA space, as well as maintaining relationships with the various Equity Exchanges and ECNs. Previously, Dawda has held the positions of Head of Product Development for Global Equity Prime Services and COO for Global Program Trading, both at Deutsche Bank. Dawda’s extensive technology background also includes managing a team of 130 people as Head of Operations and Stock Lending technology at NatWest Securities in the late 1990’s.

Dawda holds a BS in electrical and electronic engineering from The University of Hull in the United Kingdom.