ConvergEx Group Renames NorthPoint as ConvergEx Prime Services

NEW YORK, Dec. 1, 2011 /PRNewswire/ -- ConvergEx Group, a leading technology company, today announced that it has changed the name of NorthPoint Trading Partners to ConvergEx Prime Services, effective November 30.

"Since joining ConvergEx in 2009, our organization has expanded and changed in tremendous ways. The synergies that have been created have made us truly unique in the prime services industry and allowed us to offer our customers differentiated services and powerful technologies that, previously, could only be accessed by the largest institutions," said Douglas M. Nelson, chief executive officer of ConvergEx Prime Services. "Our new name is a great expression of our company today."

"This name change was a logical step in the evolution of this business and it is a reflection of our commitment to growing and developing it as an integral part of ConvergEx Group," said Joseph M. Velli, chairman and chief executive officer of ConvergEx Group.

Mr. Nelson and Michael L. DeJarnette, president of ConvergEx Prime Services, will each continue in their respective roles. The business will continue to be based out of Atlanta, Georgia, and all of its clearing and custody arrangements, products, partnerships and projects will continue uninterrupted.

ConvergEx Prime Services provides premier class prime services to Hedge Funds, Family Offices, Mutual Funds, and Registered Investment Advisors. It offers exceptional customers service as well as advanced technology, global execution and reporting tools. Its customers have multiple prime custody options through Goldman Sachs Execution and Clearing, L.P., J.P. Morgan Clearing Corp and Pershing LLC.

About ConvergEx Group

ConvergEx Group is a leading technology company providing mission-critical proprietary software products and technology-enabled services to asset managers and financial intermediaries globally.  Its products and services span the investment life cycle and are designed to enable customers to achieve improved results through operational and workflow efficiencies, execution and analytical tools and highly personalized service. The firm serves customers accessing 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.

ConvergEx Group includes ConvergEx Execution Solutions LLC (member NYSE/FINRA/SIPC); LiquidPoint, LLC (member CBOE/SIPC); G-Trade Services LLC (member FINRA/SIPC); Westminster Research Associates LLC (member FINRA/SIPC); Eze Castle Transaction Services LLC (member FINRA/SIPC); ConvergEx Prime Services LLC (member FINRA/SIPC); Eze Castle Software LLC; RealTick LLC; ConvergEx Research Solutions LLC, of which Jaywalk, Cogent Consulting and LDB are divisions; ConvergEx Limited in the UK and Australia; and ConvergEx Asia Pacific Limited in Hong Kong. ConvergEx Group, LLC is a subsidiary of ConvergEx Holdings, LLC.  Additional information is available at www.convergex.com.

SOURCE ConvergEx Group

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