Clear Street names former CBOE chief Edward Tilly as new president
Former CBOE chief Edward Tilly has been hired as the new president of New York-based independent prime broker Clear Street.
Clear Street president Edward Tilly (Image: LinkedIn)
The fintech says its latest hire will “work closely” with CEO Chris Pento to lead the firm through its “next phase of growth”.
Currently valued at $2.1 billion, Clear Street provides cloud-native clearing, custody and prime brokerage services to institutional investors and traders.
Pento claims the fintech has increased its main business revenue by more than 50% each year on average since launching in 2018, with this growth currently “accelerating this year”.
“The time is right for us to welcome Ed to the executive team as we continue to super-charge our growth plans and take Clear Street to the next level,” he comments.
Tilly joins the fintech directly from CBOE Capital Markets, a global exchange operator and financial market infrastructure provider headquartered in Chicago, where he served as chairman and CEO for over 10 years.
During this tenure, he is credited as being “instrumental” in increasing the vendor’s market capitalisation from $2 billion to over $18 billion, and is cited as the “driving force behind transformative transactions”, including its acquisition of BATS Global Markets completed in 2017.
“Having spent more than thirty years in the financial markets hyper-focused on innovation and accessibility, Clear Street has an exciting opportunity and I am looking forward to working with Chris and his team,” commented Tilly.
His latest appointment succeeds a string of new hires at Clear Street, including Jon Daplyn to chief information officer and Hari Godbole to managing director and vice president of engineering, who joined the firm in September.
