âIn this important role, Joe will lead a talented group of industry professionals who volunteer their time and efforts to represent the interests of the institutional trading community worldwide,â said Joseph M. Velli, chairman and chief executive officer of ConvergEx Group. âJoe brings with him extensive and successful experience that combines a passion for the business with a deep understanding of capital market and market structure issues. On behalf of all the employees at ConvergEx, I extend our hearty congratulations on this well-deserved honor.â
A veteran of the industry, Mr. Cangemi began his career in 1983 when he co-founded Francis P. Maglio & Co., growing the firm to become one of the industryâs top direct access floor brokers. There, he operated as head trader and chief operating officer until the firm was acquired by ConvergEx in 2002. In 2006, he was appointed to the STAâs Board of Governors and served as STA treasurer in 2009. He is currently serving as STA vice chairman for 2010. Mr. Cangemi is also a past governor of the NYSE.
Established in 1934, the STA is the leading trade organization for individual professionals in the securities industry and works to improve the ethics, business standards and working environments for its members. It is comprised of 27 affiliate organizations, nationally and internationally, with approximately 5,200 members. The STA provides its members with a voice on matters affecting the markets â with Congress, SEC, regulators, exchanges and other organizations.
ConvergEx is a leading technology company providing products and services to asset managers and financial intermediaries globally. Its products and services span the investment life cycle and center on the development, marketing and servicing of technology-based solutions that enable clients to achieve improved investment results through operational and workflow efficiencies, execution and analytical tools and highly personalized service. The firm serves more than 6,000 institutional clients in 100 global markets. Formed in 2006, the firm has over 1,000 employees in 22 locations throughout the U.S., Europe, Asia, Australia and Africa.