Modern prime broker expands workforce with highly-experienced sales team to help lead future growth; Clients use Clear Street to process an average of more than $3 billion trades per day

NEW YORK, NY / ACCESSWIRE / February 16, 2022 / Clear Street, a new prime broker built on cloud-based infrastructure, today announced seasoned prime services expert Patrick Travers will join as the company's new Head of Distribution effective June 1^st, 2022.

Travers will bring more than a decade of experience leading teams and developing go-to market strategies from his time at Wells Fargo and Bank of America. His most recent role at Wells Fargo was as Co-Head of Equity Finance and Co-Head of Global Distribution of Equities. At Clear Street, Travers will oversee and lead all sales teams, develop new business strategies and opportunities, and help clients achieve maximum value with Clear Street's products and services.

Travers will report to Andrew "Andy" Volz, Clear Street's Chief Operating Officer. Volz oversees Clear Street's sales and distribution activities, as well as new business initiatives to support the company's rapid growth strategy. Volz joined Clear Street in August 2021 after more than five years at JonesTrading, most recently serving as the firm's COO after leading Jones' Prime Services function.

Additionally, Clear Street has expanded its sales team with the following industry experts:

• Curtis Allemang - Prime Brokerage Sales (effective April 18^th, 2022)

Allemang joins Clear Street after almost eight years as Director on the Wells Fargo Equity Finance sales team where he was responsible for new business and client relationship management.

• Richard Mormile - Capital Introduction

Mormile oversees the firm's Capital Introduction offering. Mormile has nearly two decade's experience, most recently serving as the Head of Capital Introduction at JonesTrading.

• Raoul Scott - Prime Brokerage Sales

Scott most recently served as Managing Director, Prime Brokerage at StoneX Group and has previously held sales roles at Cowen and Convergex.

• Kevin Salquist - Sales and Trading

Salquist joins after more than nine years in senior roles in prime services at Wells Fargo and 16 years as a Partner at Merlin Securities.

• Doreen Pappas - Prime Brokerage Sales

Pappas joins Clear Street after six years in prime services at Wedbush Securities. Previously, Pappas held roles in prime brokerage at Citi, Deutsche Bank and Lehman Brothers Holding Inc.

• Hamed Anvari - Equity Derivatives Trading

Anvari joins with nearly two decades of experience as a professional trader at firms including his own Anvari Capital, SYW Capital, Dahlman Rose & Co., Touradji Capital, and Miller Tabak.

• Ryan Walker - Prime Brokerage Sales

Walker was previously a business development associate at JonesTrading, supporting Prime Services, Outsourced Trading, Electronic Trading, and High Touch Trading.

"We are thrilled to have an industry veteran like Pat take the reins of our growing sales team," said Volz. "Each member of the team brings years of experience, skills, and integrity. Under Pat's leadership, I am confident that we will continue to deliver a best-in-class experience for our clients. We look forward to what we will accomplish together in 2022 and beyond as we continue to expand our network and bring new products and services to market."

Clear Street also reported outstanding performance metrics, demonstrating more than 14% increase in annual revenue compared to 2020 and more than $400 million in capital to support the continued expansion of its balance sheet. Under the stewardship of an expanded senior leadership team, Clear Street is now clearing approximately 2% of the total volume in U.S. equities and processing more than $3 billion in daily trades.

"At Clear Street, we're proud to be at the forefront of innovation for the prime brokerage industry. Our modern tech stack provides real-time data insights that drive competitive advantage by minimizing operational costs, demystifying risk, and freeing our clients from manual processes," said Chris Pento, Co-Founder and CEO of Clear Street. "Looking ahead in 2022, we remain well-positioned for long-term growth and are committed to supporting our clients by providing them with easy access to everything they need to compete in today's markets."

About Clear Street:

Launched in 2018 by industry veterans, Clear Street is a modern prime broker that understands firsthand the challenges facing today's most active market participants. Clear Street's prime brokerage platform is the first to be built on cloud-based infrastructure, and uses innovative and modern technology that is flexible, scalable, secure, and reliable. Clear Street clients are able to trade sooner and smarter - processing more than $3 billion in trades every day. For more information visit https://clearstreet.io/.

Press Contact:

Elizabeth Connerat
press@clearstreet.io

Clear Street does not provide investment, legal, regulatory, tax, or compliance advice. Consult professionals in these fields to address your specific circumstances. These materials are: (i) solely an overview of Clear Street's products and services; (ii) provided for informational purposes only; and (iii) subject to change without notice or obligation to replace any information contained therein.

Products and services offered by Clear Street LLC, member FINRA and SIPC. Additional information about Clear Street is available on FINRA BrokerCheck (https://brokercheck.finra.org/firm/summary/288933), including its Customer Relationship Summary.

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SOURCE: Clear Street