Clear Street keeps growing securities lending team
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Clear Street keeps growing securities lending team 11 November 2020US Reporter: Natalie Turner
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Clear Street has continued its securities lending recruitment drive with the appointment of Stefanie Mangino.
Mangino, who is based in New York, will be joining the securities lending team in a stock loan operations role, reporting to Salvatore Candialosi.
Her most recent position was as a vice president at Wedbush Securities which she vacated in March, after a year in the role. Prior to that she specialised in securities lending at B. Riley FBR for three years.
Before that, Mangino held several securities lending positions at Cowen and Company, BNP Paribas and the Bank of America.
She has also a member of the Financial Women鈥檚 Association since 2019 where she contributes to the acceleration of the success and leadership of women in the financial community across all industries.
Clear Street ramped up its recruitment drive earlier this year with several senior appointments of industry heavyweights including Robert Chiuch, James McDonald and Mark Skowron and Vincent Avena who joined the firm in August.
The agency lending veterans were free agents since 2019 but were bought together to create a new team aimed at improving the securities finance experience for Clear Street鈥檚 institutional clients.
They have now formed a new division called CS Financing Solutions, which will focus on helping institutional investors, intermediaries, and other stakeholders increase the profitability of their securities financing programmes.
A spokesperson for Clear Street says the new team will also explore new opportunities to serve a much broader range of institutional clients, such as public, private-public and private pension funds, mutual funds, and endowments.
Clear Street now boasts a 13-strong securities lending and financing team, having first formed the desk just over a year ago with the hires of , and Charles Ross, who were joint leaders before Avena鈥檚 appointment, along with Antonio Maneri.
The spokesperson adds that, under Avena, the securities lending team aims to serve Clear Street鈥檚 growing list of customers, ranging from emerging funds to established institutions, as well as set out plans for further expansion to the team and product range.
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