Mr. Faller will be responsible for Penson Worldwide's retail and institutional FX offerings. He will report to Simon Raphael, Senior Vice President and Head of Strategic Development.

"We are very pleased to welcome David to Penson Worldwide and have him join the team," said Daniel P. Son, President, Penson Worldwide. "He is well respected in the industry and brings with him a wealth of FX experience and an impressive track record. We are confident that his extensive knowledge will enable us to expand our FX products and better service our clients with their FX needs."

"I am extremely excited about joining Penson Worldwide," commented Faller. "I look forward to working closely with Penson's client-centric team to provide innovative and value enhancing FX solutions to Penson's three hundred correspondents all over the world."

Formerly, Mr. Faller served as the Managing Director and Global Head of FX Options Trading and Sales with the Bank of Montreal. His twenty years of experience in currency markets includes trading, sales and business-line management at global institutions in Europe and North America.