ConvergEx Announces Record Growth for NorthPoint in 2010
21 January 2011 New York
Image: Shutterstock
ConvergEx Group has 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鈥檚 revenues were up over 50 per cent and its clients鈥� AUM grew by nearly 25 per cent, year over year.
鈥淭hese 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鈥檚 broad range of proprietary technologies, making NorthPoint鈥檚 offering the most comprehensive in the prime services industry,鈥� said Douglas Nelson, chief executive officer of NorthPoint Trading Partners.
鈥淎nd as ConvergEx continues to roll out more technologies like the recently acquired RealTick庐 execution platform or the real鈥恡ime portfolio margining software from LDB Consulting, NorthPoint鈥檚 clients can look forward to having an even greater number of state鈥恛f-the鈥恆rt tools at their disposal.鈥�
鈥淭hroughout this rapid growth, we have remained committed to maintaining the highest level of customer service and have increased our staff to keep pace,鈥� said Michael DeJarnette, president of NorthPoint Trading Partners. 鈥淭his means our clients get the advantage of working with one team, while having access to technologies that offer a substantial edge.鈥�
During a time when there was a great deal of consolidation in the prime services space, NorthPoint鈥檚 revenues were up over 50 per cent and its clients鈥� AUM grew by nearly 25 per cent, year over year.
鈥淭hese 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鈥檚 broad range of proprietary technologies, making NorthPoint鈥檚 offering the most comprehensive in the prime services industry,鈥� said Douglas Nelson, chief executive officer of NorthPoint Trading Partners.
鈥淎nd as ConvergEx continues to roll out more technologies like the recently acquired RealTick庐 execution platform or the real鈥恡ime portfolio margining software from LDB Consulting, NorthPoint鈥檚 clients can look forward to having an even greater number of state鈥恛f-the鈥恆rt tools at their disposal.鈥�
鈥淭hroughout this rapid growth, we have remained committed to maintaining the highest level of customer service and have increased our staff to keep pace,鈥� said Michael DeJarnette, president of NorthPoint Trading Partners. 鈥淭his means our clients get the advantage of working with one team, while having access to technologies that offer a substantial edge.鈥�
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