BNY ConvergEx Group Enhances US Sales and Trading Business with Key Senior Appointments

New York - 31 July 2008

BNY ConvergEx Group, LLC, a leading provider of global agency brokerage and investment technology solutions, today announced that it is continuing the expansion of its US Sales and Trading business with senior appointments in its equities, options, fixed income and transition management desks.

ConvergEx is enhancing its multi-asset trading capabilities with the appointments of Charles D. Warner, Senior Vice President, Fixed Income Trading; Sean M. Wagner, Senior Vice President, Portfolio Trading; David V. Lenahan, Senior Vice President, Equity Trading; Michael Omilinsky, Vice President, Options Trading; and Jeffrey A. O’Brien, Senior Vice President, Transition Management Sales.

Joseph M. Velli, Chairman and Chief Executive Officer of BNY ConvergEx Group, commented, “The expansion of our global sales and trading franchise is an ongoing strategic initiative for ConvergEx that is crucial to meeting the investment needs of our clients and another strong indication of our commitment to growth. I am extremely confident that our clients in the US and throughout the world will benefit significantly from their appointments.”

“Each of these appointments brings an abundance of sales and trading expertise and a wealth of relationships in the US and international institutional investment community to ConvergEx,” stated Carey S. Pack, Chief Executive Officer, BNY ConvergEx Execution Solutions. “This targeted investment in our equity, fixed income, options and transition management businesses will enable us to better serve our clients by broadening the product and sector expertise that we can bring to them.”
ConvergEx recently attained record-breaking equity trading volume growth and market share across a number of different market centers and other execution venues, as demonstrated by the doubling of ConvergEx’s average daily volume at the New York Stock Exchange since the first of the year. ConvergEx also tripled its percentage of NYSE market share during the same time frame, which has led to a significant move up the NYSE’s Broker Volume Top 10 rankings.

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