Newedge, a multi-asset brokerage and clearing, announced that John Fay has been named Senior Managing Director and Head of Americas Region, effective immediately. Fay will be based in New York and will focus on expanding and strengthening Newedges business lines in the region. Fay will be responsible for overseeing the firms 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 CEO, and Nicolas Breteau Global Head of Sales and Front Office.
Formerly, as Co-CEO and Co-President of Instinet, he helped grow Instinet into one of the leading global institutional brokerages of its kind and one of the earliest and most successful electronic communication networks in the world. Fay began his financial services career in 1988, playing a key leadership role in building Morgan Stanley-Dean Witters innovative on-line brokerage business. Later, he worked at Goldman Sachs before joining Instinet where he assisted in the companys rapid growth in Europe and Asia, until the companys sale to Nomura in 2007.
Johns 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, says Patrice Blanc. 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.
The Americas Region of Newedge currently consists of Newedge USA, LLC, the largest futures broker in the USA based on customer segregated funds, as well as Newedge Canada Inc. Newedge companies in the Americas Region principally engage in exchange-traded derivatives, equities and fixed income brokerage, as well as foreign exchange.
In his capacity, John Fay will also serve as CEO of Newedge USA based in New York.
D.C.