Newedge, a provider of multi-asset brokerage and clearing, has named John Fay senior managing director and head of Americas region.
Fay will be based in New York and will focus on expanding and strengthening Newedge’s business lines in the region.
Fay will be responsible for overseeing the firm’s regional performance, and will oversee local risk, compliance and regulatory issues.
Fay also joins as a Newedge executive committee member, reporting directly to Patrice Blanc, Newedge chief executive, and Nicolas Breteau, global head of sales and front office.
Fay was previously co-chief executive and co-president of Instinet. He began his financial services career in 1988, playing a leadership role in building Morgan Stanley-Dean Witter’s online brokerage business. Later, he worked at Goldman Sachs before joining Instinet.
Blanc says: “John’s extensive experience and solid knowledge of the financial services industry will be an asset to Newedge's clients, helping to broaden our global product offering and strengthen our agency model. As a world-leading brokerage, Newedge is now well positioned to continue to grow our business, while delivering superior performance for investors in the highly competitive and dynamic Americas region.”
Fay adds: “I am very pleased to join the Newedge team and I believe that Newedge’s leading brokerage platform is well positioned in today’s competitive environment to continue to provide strong benefits to our customers in the Americas and around the globe.”
The Americas region of Newedge currently consists of Newedge USA, the largest futures broker in the US based on customer segregated funds, as well as Newedge Canada.