The chief executive officer of Convergex, Eric Noll, is leaving the firm.
Traders Magazine has confirmed with the New York-based agency brokerage and technology company that Noll, who had overseen the acquisition of his firm to Cowen & Co, will be leaving the firm when the deal closes, which could be as soon as next week.
Cowen purchased Convergex in April for $116 million dollars, a bargain, according to several sources contacted by Traders Magazine.
Despite leaving Convergex, Noll reportedly will continue to be a force within the equities market as Traders Magazine learned that he will remain a member and participant of the Securities and Exchange Commissions Equity Market Structure Advisory Committee. Noll began his career on Wall Street back in 1993 as an Assistant Vice President on the Philadelphia Stock Exchange in strategic planning. He then moved to the buy-side at Susquehanna International in 1994 as a Managing Director. He spent 15 years at SIG.
In July 2009, he joined exchange operator Nasdaq as an Executive Vice President in the Transaction Services Group. It was here that Noll became a mainstay of the capital markets, speaking at myriad industry events, lecturing and becoming an authority of the equity market structure.
He joined Convergex in November 2013 when it was in the midst of settling charges it had concealed markups on stock trades.