ConvergEx Group’s Prime services business NorthPoint Trading Partners has grown at a record since its acquisition by ConvergEx a year ago.
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," says said Douglas Nelson, chief executive officer of NorthPoint Trading Partners. "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. 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.”
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.
