The new unit is part of Wedbush Securities' FICCS division.
The FX prime brokerage team is being led by Michael Stone, ex-Jefferies Bache VP.
Wedbush Securities, a
California-based financial services provider, is now expanding into the foreign
exchange prime brokerage industry. With the move, the company is going beyond
providing securities brokerage, wealth management and investment banking
services.
Wedbush Expands Services
Wedbush, which was founded
nearly seven decades ago, said it will start offering the new services in May
2022. The firm noted that the new business will broaden its existing
multi-asset clearing services.
As part of the new move, Wedbush has hired a number of Jefferies executives led by industry veteran Michael
Stone, a former Vice President (VP) at commodities futures dealer Jefferies Bache,
to build the new unit. Stone leads the prime brokerage team as Senior Vice President.
The new unit is being organized under Wedbush's newly-established Fixed Income, Currencies, Commodities and Securities Finance
(FICCS) Division, the US brokerage firm said. Other Jefferies ex-employees
joining Stone to build the new unit include James Peckham, Ray Cera and Stephen Lamb, who were all previously VP of FX Prime Brokerage at Jefferies.
“With our launch into FX Prime
Brokerage and having one of the best FX teams in the business, this definitely
adds an extra level of service and investment opportunities for our clients,” noted Bob Fitzsimmons, the Executive Vice President of FICCS.
Michael
Stone Boasts 30 Years of Experience
Michael Stone, Wedbush
Securities’ new Senior Vice President for FX Prime Brokerage, is an industry
veteran with over 30 years of financial services career experience under his
belt. Before joining Wedbush, Stone served as the Vice President at Jefferies
Bache for over 13 and a half years.
The senior executive also spent
a short stint at the Royal Bank of Scotland between March 2008 and May 2009. Before then, Stone worked for nearly two decades at Dutch bank ABN AMRO, serving
as the Director of FX Prime Brokerage.
While Wedbush announced Stone’s
appointment on Wednesday, his LinkedIn profile shows that he took on the role in
December 2022, Wedbush has been fulfilling the new role from Wedbush's division in Chicago.
“I and my team from Jefferies
are very excited to join a firm that is so highly regarded in the futures
space,” Stone noted, adding that they were looking forward “to
building a business that adds value to mid-level corporates and professional
trading groups who are perpetually in need of access to high-quality liquidity
on reasonable credit terms.”
Wedbush Securities, a
California-based financial services provider, is now expanding into the foreign
exchange prime brokerage industry. With the move, the company is going beyond
providing securities brokerage, wealth management and investment banking
services.
Wedbush Expands Services
Wedbush, which was founded
nearly seven decades ago, said it will start offering the new services in May
2022. The firm noted that the new business will broaden its existing
multi-asset clearing services.
As part of the new move, Wedbush has hired a number of Jefferies executives led by industry veteran Michael
Stone, a former Vice President (VP) at commodities futures dealer Jefferies Bache,
to build the new unit. Stone leads the prime brokerage team as Senior Vice President.
The new unit is being organized under Wedbush's newly-established Fixed Income, Currencies, Commodities and Securities Finance
(FICCS) Division, the US brokerage firm said. Other Jefferies ex-employees
joining Stone to build the new unit include James Peckham, Ray Cera and Stephen Lamb, who were all previously VP of FX Prime Brokerage at Jefferies.
“With our launch into FX Prime
Brokerage and having one of the best FX teams in the business, this definitely
adds an extra level of service and investment opportunities for our clients,” noted Bob Fitzsimmons, the Executive Vice President of FICCS.
Michael
Stone Boasts 30 Years of Experience
Michael Stone, Wedbush
Securities’ new Senior Vice President for FX Prime Brokerage, is an industry
veteran with over 30 years of financial services career experience under his
belt. Before joining Wedbush, Stone served as the Vice President at Jefferies
Bache for over 13 and a half years.
The senior executive also spent
a short stint at the Royal Bank of Scotland between March 2008 and May 2009. Before then, Stone worked for nearly two decades at Dutch bank ABN AMRO, serving
as the Director of FX Prime Brokerage.
While Wedbush announced Stone’s
appointment on Wednesday, his LinkedIn profile shows that he took on the role in
December 2022, Wedbush has been fulfilling the new role from Wedbush's division in Chicago.
“I and my team from Jefferies
are very excited to join a firm that is so highly regarded in the futures
space,” Stone noted, adding that they were looking forward “to
building a business that adds value to mid-level corporates and professional
trading groups who are perpetually in need of access to high-quality liquidity
on reasonable credit terms.”
Solomon Oladipupo is a journalist and editor from Nigeria that covers the tech, FX, fintech and cryptocurrency industries. He is a former assistant editor at AgroNigeria Magazine where he covered the agribusiness industry. Solomon holds a first-class degree in Journalism & Mass Communication from the University of Lagos where he graduated top of his class.
Devexperts Teams Up with nuam Exchange to Boost Equity and Derivatives Trading
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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📣 Stay updated with the latest in finance and trading!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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