Business & Finance
Business and Finance
Business and Finance
Wed, June 16, 2010 Penson Financial Services Names Andrew Konchan as Chief Information Officer
DALLAS--([ BUSINESS WIRE ])--Penson Worldwide, Inc. (NASDAQ: PNSN) announced today that its US securities clearing unit, Penson Financial Services, Inc. (PFSI), named Andrew Konchan as Chief Information Officer. Mr. Konchan, 39, most recently was CIO and Managing Director of Fortis Clearing Americas LLC (FCA), a clearer of U.S. securities and derivatives and a subsidiary of Fortis Bank Nederland.
"Andy's expertise aligns perfectly with our mission to become the best provider of clearing and execution services in the world."
Mr. Konchan has been on the leading edge in the securities industry, where technology is directly involved in implementing strategy, creating growth opportunities, and increasing efficiency. "In his considerable leadership roles, Andy has delivered many high value projects that resulted in improved scale and processing efficiency," said Bill Yancey, President & CEO of PFSI. "Andy's expertise aligns perfectly with our mission to become the best provider of clearing and execution services in the world."
From 1993-2001, Mr. Konchan was with UBS, starting as a trading assistant on the CME floor. In 1994, he was sent to Singapore to expand the FX derivative trading business. In 1995, he returned to Chicago to develop the bank's first chat system and one of its first web sites, to construct its global desktop video solution, and to expand its FX derivative pricing and risk control system. In 1999, he founded UBS's global E-Commerce Business Technology Group, and, in 2000, he moved to London as Global Head of the operation.
From 2002-2009, Mr. Konchan was with ABN AMRO in Chicago and its acquirer, Fortis. He was named ABN AMRO's Director of Financial Markets E-Commerce in 2002, Head of Corporate FX and Derivatives Administration in 2004, and Head of the Global Securities and Trust Services Platform Group in 2006. A consortium that included Fortis acquired ABN AMRO in 2007; that year, Mr. Konchan was named FCAa™s CIO.
Mr. Konchan earned a B.A. from Northwestern University in 1993 with a double major in Economics and Mathematical Methods in the Social Sciences, and an M.B.A. from the University of Chicago in 1998 with concentrations in Finance and Analytical Finance. He currently serves as Treasurer of the Cabrini-Green Tutoring Program, Inc., a non-profit organization dedicated to helping underprivileged children in Chicago.
About Penson Worldwide: [ www.penson.com ]
The Penson Worldwide group of companies provides execution, clearing, custody, settlement and technology infrastructure products and services to financial services firms and others servicing the global financial services industry. The Penson Worldwide group of companies includes Penson Financial Services, Inc., Penson Financial Services Canada Inc., Penson Financial Services Ltd., Nexa Technologies, Inc., Penson GHCO, Penson Asia Limited, and Penson Financial Services Australia Pty Ltd, among other companies. Headquartered in Dallas, Texas, Penson has served the clearing needs of the global financial services industry since 1995. Penson Worldwide - Building the Best Clearing and Execution Services Firm in the World.
Penson Financial Services, Inc. is a member of the New York Stock Exchange, NYSE Alternext, Chicago Stock Exchange, FINRA, the Chicago Board Options Exchange (CBOE), OneChicago, the International Securities Exchange (ISE), the NYSE Arca Exchange, the Options Clearing Corp (OCC), the MSRB, NSCC, ICMA, DTC, Euroclear, SIPC and is a participant of the Boston Options Exchange (BOX). Penson Financial Services Canada Inc. is a participating organization with the Toronto Stock Exchange, the Montreal Exchange, the CNQ Exchange and the TSX Venture Exchange, is regulated by the Investment Industry Regulatory Organization of Canada, is a member of the CIPF, CDCC and CDS and subscribes to various Canadian Alternative Trading Systems. Penson Financial Services Ltd. is a member of the London Stock Exchange and is authorized and regulated by the Financial Services Authority. Penson Financial Services Australia Pty, Ltd is a member of the ASX Group, which operates the Australian Stock Exchange and the Sydney Futures Exchange. Penson GHCO is a registered Futures Commission Merchant and clearing member at the Chicago Mercantile Exchange, Chicago Board of Trade, Kansas City Board of Trade, London International Financial Futures Exchange, and ICE Futures.
Forward-Looking Statements
Statements contained in this news release that are not based on current or historical fact are forward-looking in nature. Such forward-looking statements are based on current plans, estimates and expectations. Forward-looking statements are based on known and unknown risks, assumptions, uncertainties and other factors. Actual results, performance, or achievements may differ materially from any future results, performance, or achievements expressed or implied by such forward-looking statements. Penson undertakes no obligation to publicly update or revise any forward-looking statement.
