Expanding Securities Lending & Financing

We made the first hire on our securities lending team just over one year ago. It’s expanded quickly ever since.

Today, the team has grown to 12 professionals, each with solid experience from leading banks and brokers. They serve a growing list of customers, ranging from emerging funds to established institutions.

As we continue to broaden our services, I have asked Vincent Avena, a deeply experienced executive, to lead the continued growth of our securities lending and prime funding offerings. He has 40+ years of experience leading multibillion-dollar securities lending programs at institutions including TD Securities, BNP, Bank of America, Albert Fried, and Montgomery Securities.

Vincent will work alongside our client support, execution, financing, and engineering teams to further modernize the securities financing experience for clients — improving efficiency, increasing price transparency, introducing new products, and expanding service options.

“While the securities finance industry has seen a significant amount of transformation over the years, the speed of change in the market today requires ongoing creativity and innovation — asset owners are demanding it,” Vincent Avena said. “Clear Street has the team, technology, and long-term vision needed to bring securities finance into the future.”

We are also forming a new team, led by three veterans of the agency lending business, to improve the securities finance experience for institutional clients.

Mark Skowron, and Robert Chiuch, who previously led global securities finance businesses at Northern Trust and Bank of New York Mellon respectively, have joined forces to lead the new initiative.

In their previous roles, the team collectively led activities for equity and fixed income securities finance programs with AUM in excess of $9 trillion, spanning 30 global markets. Their clients included public and private pension funds, mutual funds, and endowments, among others.

At Clear Street, the team will focus on helping institutional investors, intermediaries, and other stakeholders increase the profitability of their securities financing programs. The team will take an agile, boutique-style approach to client service, using any combination of financing, liquidity, and collateral management structures to deliver optimal results for clients.

“We are very much focused on increasing returns for our clients,” said Robert Chiuch. “Our comparatively lower cost structure will allow us to return a greater share of profits to our clients, while also delivering an outstanding experience for all stakeholders.”

Mark Skowron noted, “At Clear Street, we are taking a modern approach to securities finance. We’ll leverage the latest technology to provide sophisticated products, innovative solutions and creative alternatives, driving increased revenue opportunities across a spectrum of asset managers and owners.”

If you’d like to talk to us about your securities finance program, please contact sales@clearstreet.io.