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Penson Financial Services appoints Chris Sandel SVP

18 July 2006  |  1571 views  |  0 Source: Penson Worldwide

Penson Worldwide, Inc. a leading provider of execution, clearing, custody and settlement services for the global securities markets has appointed Christopher Sandel to the position of Senior Vice President of Penson Financial Services, Inc.

Mr. Sandel will be involved in clearing services, new business development and new product development for the firm. "We are very pleased to welcome Chris to our team, and believe he can add significant value," said Daniel P. Son, President of Penson Worldwide, Inc.

"Chris Sandel is well known in our industry for his experience in trading, clearing and execution services and for his knowledge of operations," said Bill Yancey, President, and CEO of Penson Financial Services, Inc. "His extensive experience in establishing new business relationships and operational procedures to meet client, associate and shareholder needs will benefit Penson."

"Chris' unique approach to client satisfaction is the differentiation that has made him an industry leader. His networking capabilities, coupled with his dedication to quality service, will complement the entrepreneurial spirit at Penson," commented Leslie C. Quick, III., Former Chairman and Chief Executive Officer of US Clearing, a division of Fleet Securities, Inc., now known as ADP Clearing and Outsourcing Services, Inc.

Mr. Sandel comes to Penson from ADP Clearing and Outsourcing Services, where he was a Managing Director responsible for the relationship management, service quality and sales groups. Mr. Sandel joined Fleet Securities, Inc. in 1997 as Vice President and established its execution capabilities for both equities and options. From 1995 to 1997, he was Vice President of Murphey, Marseilles, Smith & Nammack, Inc., where he built an execution and clearing division. From 1985 to 1995, he was with Adler, Coleman Clearing Corp., where he rose to Senior Vice President. He is a graduate of St. John's University.

Mr. Sandel is a member of numerous professional organizations including the Security Traders Association and the Securities Traders Association of New York. He has also served on many industry committees including the Managing Director Committee and the Business Development Committee of the Chicago Board Options Exchanges, the Option Allocation Committee of the American Stock Exchange and the Retail Advisory Committee for both the Chicago Stock Exchange and the Philadelphia Stock Exchange.

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