ConvergEx Announces Record Growth for NorthPoint in 2010

NEW YORK, Jan. 19, 2011 /PRNewswire/ -- ConvergEx Group, a leading technology company, today announced that NorthPoint Trading Partners grew at a record pace in 2010, one year since ConvergEx acquired the prime services business. During a time when there was a great deal of consolidation in the prime services space, NorthPoint's revenues were up over 50% and its clients' AUM grew by nearly 25%, year over year.

"These results are a testament to the powerful combination that was formed when ConvergEx and NorthPoint teamed up. Very shortly after the acquisition, we were able to give our clients access to ConvergEx's broad range of proprietary technologies, making NorthPoint's offering the most comprehensive in the prime services industry," said Douglas Nelson, chief executive officer of NorthPoint Trading Partners. "And as ConvergEx continues to roll out more technologies like the recently acquired RealTick® execution platform or the real-time portfolio margining software from LDB Consulting, NorthPoint's clients can look forward to having an even greater number of state-of-the-art tools at their disposal."

"Throughout this rapid growth, we have remained committed to maintaining the highest level of customer service and have increased our staff to keep pace," said Michael DeJarnette, president of NorthPoint Trading Partners. "This means our clients get the advantage of working with one team, while having access to technologies that offer a substantial edge."

Founded in 2006, NorthPoint is an industry-leading provider of integrated prime services. Its full suite of technology-based solutions include prime custody, execution solutions, analytics and reporting, capital introduction, research, commission management and start-up services. Since being acquired by ConvergEx in late 2009, NorthPoint's clients also have access to ConvergEx's entire global offering of powerful investment technologies and advanced execution solutions.  NorthPoint was recently named a "Top Rated Provider" in Global Custodian's 2010 Prime Broker Survey.

About ConvergEx Group

ConvergEx Group is a leading technology company providing mission critical software and technology-enabled 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 clients in over 100 global markets.  Formed in 2006, the firm has over 1,200 employees in 22 locations throughout the U.S., Europe, Asia, Australia and Africa.

BNY ConvergEx Group, LLC is comprised of the following businesses: BNY ConvergEx Execution Solutions LLC (member NYSE/FINRA/SIPC), LiquidPoint, LLC (member CBOE/SIPC); Eze Castle Transaction Services LLC (member FINRA/SIPC); Westminster Research Associates LLC (member FINRA/SIPC); G-Trade Services LLC (member FINRA/SIPC); NorthPoint Trading Partners, LLC (member FINRA/SIPC); Eze Castle Software LLC,  RealTick LLC and ConvergEx Research Solutions LLC, of which Jaywalk, Cogent Consulting and LDB Consulting are divisions.   Additional information is available at www.convergex.com.

SOURCE ConvergEx Group

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