Penson Financial Services names Bart McCain SVP and CAO
Penson Worldwide, Inc. (Nasdaq: PNSN), a leading provider of execution, clearing, settlement and custody services for the global securities markets, has appointed Bart McCain to the position of Senior Vice President and Chief Administrative Officer of its subsidiary Penson Financial Services, Inc.
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Mr. McCain will be responsible for cash management, strategic planning and areas related to measuring corporate performance, while working closely with Penson's Accounting and Finance groups. He will also work to improve existing and implement new cost containment controls and budgeting processes, as well as the preparation of submissions for regulatory financial filings for Penson Financial Services, Inc.
"We are very pleased to welcome Bart," said Daniel P. Son, President of Penson Worldwide, Inc. "He has distinguished himself both in his professional and personal life. His noteworthy experience and a strong skill set make him a welcome addition to Penson's senior management team."
Mr. McCain comes to Penson from Automated Trading Desk, LLC (ATD) where he was the Controller, responsible for accounting, financial reporting, tax reporting, budgeting and cash management activities for the firm. Prior to joining ATD in 2003, Mr. McCain acted as the lead financial officer for the Capital Markets Group at Southwest Securities, Inc., where he was initially responsible for that department's accounting, budgeting and risk management before being promoted to Manager of Equity Trading. Mr. McCain is a Certified Public Accountant and previously gained valuable experience in various types of commercial audit engagements including real estate development companies, banks and construction companies while with a leading accounting firm in the late 1970s. Mr. McCain, who is a graduate of Texas A&M University, also served on the Board of Directors of the Dallas County Utility and Reclamation District in the late 1990s.