ConvergEx, a leading provider of investment and execution technology solutions to institutional clients worldwide, today announced that it has completed its acquisition of the assets of Cogent Consulting, the industry's leading software development firm specializing in advanced commission management solutions for institutional money managers and broker-dealers.
With the addition of Cogent's powerful research evaluation technologies, ConvergEx now offers a complete suite of neutral, anonymous and transparent services that encompasses every step of the commission management process from broker vote to third-party payment.
"We are delighted to welcome all the employees of Cogent to the ConvergEx family," said Joseph M. Velli, chairman and chief executive officer of ConvergEx. "Their many talents and industry expertise makes them a natural fit to ConvergEx, where our purpose is to continually offer innovative solutions and technologies for an ever-changing financial landscape."
"Since announcing this deal, we have been overwhelmed by the positive feedback we have received from our clients," said John Meserve, executive managing director of ConvergEx. "It is clear that this solution fills a significant need and gives our clients a suite of products that is truly unique in the marketplace."
Terms of the transaction were not disclosed.