Clear Street announces key hires for prime brokerage division

Rick Steves

Cory Solomon, Charlie Dietz, Wim Shih, George Jamgochian, Ashley DeSimone,  and Tom Klein, are Clear Street’s key hires, which will enhance the company’s prime brokerage division at a critical point in time – Clear Street recently launched futures clearing and execution services on U.S. exchanges for global clients, including hedge funds, professional trading groups, and family offices.

Clear Street has made several senior-level hires within its Institutional division, comprised of prime brokerage and professional clearing businesses.

The New York-based diversified financial services firm further expanded its derivatives, algorithmic, and cap intro teams to support the 160+ new institutional clients Clear Street added to its prime brokerage platform over the past year.

“We are on a mission to modernize the brokerage ecosystem”

Chris Pento, CEO and Co-Founder at Clear Street, said: “We are on a mission to modernize the brokerage ecosystem by replacing the legacy infrastructure used across the capital markets. Today’s announcements illustrate our commitment to further building out our world-class team with senior operatives who have deep industry expertise to drive our next stage of growth.”

Cory Solomon, Charlie Dietz, Wim Shih, George Jamgochian, Ashley DeSimone,  and Tom Klein, are Clear Street’s key hires, which will enhance the company’s prime brokerage division at a critical point in time – Clear Street recently launched futures clearing and execution services on U.S. exchanges for global clients, including hedge funds, professional trading groups, and family offices. The firm previously launched professional clearing services for registered market-makers in U.S. equities and options.

Cory Solomon, Managing Director, Derivatives, is a 20-year industry veteran who has served as Head of Portfolio Finance at Weiss Multi-Strategy Advisors, Meritage Group, and Bank of America.

Charlie Dietz, Managing Director, Derivatives, joins Clear Street after more than 30 years in equity and derivatives trading, having most recently been Managing Director and Head of Synthetic Equity Trading at Wells Fargo.

Wim Shih, Managing Director, Head of Equity Finance Algos and Automation, joins Clear Street after 18 years in global prime finance teams, most recently at TD Securities, where he provided primary global securities lending coverage for hedge funds and internal trading desks.

George Jamgochian, Managing Director, Head of Capital Introduction, joins Clear Street after serving as Director, Investor Relations at TIG Advisors and Vice President of Capital Introduction at Goldman Sachs, totaling 20 years of experience in marketing and capital introduction on the buy-side and sell-side.

Ashley DeSimone, Chief Marketing Officer, joins Clear Street as Chief Marketing Officer after being a Partner at ICR, Inc., and she brings over 20 years of experience in capital markets communications, investor and public relations, marketing and business development and strategy.

Tom Klein, Global Treasurer, joins Clear Street from Credit Suisse, where he was Managing Director, Head of Capital and Liquidity Management for global markets. He previously spent 18 years at UBS, most recently as Managing Director, Global Head of Equities Treasury & Trading.

Clear Street processes 2.5% of notional U.S. equities volume

The launch of futures clearing at Clear Street comes on the heels of the firm’s acquisition of React Consulting Services, LLC (“React”) and its proprietary futures clearing platform, BASIS, in July 2023.

BASIS was subsequently integrated into Clear Street’s existing cloud-native clearing, settlement, execution, and custody platform. Clear Street currently processes around 2.5% of the notional U.S. equities volume, equivalent to roughly $10 billion worth of activity through its platform.

In December 2023, Clear Street concluded a successful third tranche of Series B funding led by Prysm Capital which increased the firm’s valuation to $2.1 billion.

Clear Street is a member of the following futures exchanges, offering access to a range of products, including indexes, rates, and commodities: CME, ICE US, and NODAL. The Company is actively pursuing memberships with other major global futures exchanges.

Founded in 2018, Clear Street built a completely cloud-native clearing and custody system designed for today’s global market. Its goal is to create a single platform for every asset class, in every country, and in any currency.

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