Since 2007, Mr. Triance, 43, has served as Chief Operating Officer of Nomura Holdings Inc.'s Instinet Europe, a leading agency brokerage that offers a full suite of execution services and runs Chi-X, the first and largest pan-European equity multilateral trading facility (MTF). From 2004-2007, Mr. Triance was COO of Citigroup's Securities and Fund Services division for Europe, Middle East and Asia, with a staff of 4,400, $1 billion plus in revenues, and more than 73 million transactions a year. From 1998-2004, he served as Global Head of Operations of Cantor Fitzgerald International, the London-based subsidiary of the institutional brokerage firm.

"We are pleased to have a leader of Clive's caliber to head one of our key operations," said Bryce Engel, Executive Vice President of Penson Worldwide responsible for international businesses. "Clive shares our vision at Penson to become the world's leading independent provider of clearing and execution services. With Clive's experience and knowledge, we expect the PFSL platform to grow impressively as electronic trading in the UK and Europe takes off."

Mr. Triance is known for his ability to efficiently grow businesses. He has strong relationships with regulators combined with deep expertise in trading and the needs of brokers and their clients. At Cantor, he helped the firm survive 9/11 by routing all trades through London on their way to primary clearing organizations and banks. Under his tenure, Citigroup won International Custody & Fund Administration Magazine's European Broker/Dealer Custody & Clearing Provider of the Year award in 2007 "for consistently high levels of quality, efficiency and innovation."