Tilly becomes new Clear Street CEO
05 September 2024 US
Image: Clear_Street
Clear Street has appointed industry veteran Edward Tilly as its new CEO and president, following Chris Pento’s decision to step down.
Effective at the end of 2024, Pento will leave his current role as CEO, having served in the position for six years.
In July, Tilly became president at Clear Street where he was to work alongside Pento to lead Clear Street through the next phase of its growth.
Tilly joined the cloud-native financial technology firm after a decade-long tenure as CEO at Cboe Global Markets. Here, he was instrumental in growing market capitalisation from US$2.0 billion to more than US$18.0 billion.
He was the “driving force” behind transactions such as the Cboe’s 2017 acquisition of BATS Global Markets and products including zero-days-to-expiration (0DTE) options.
Pento, alongside Uriel Cohen and Sachin Kumar, co-founded and helped to build the New York-based firm in 2018. He has since worked as an operator running the day-to-day business.
Pento will assume an executive and partner role at White Bay, the family office of co-founder Cohen. He will also remain on the board of directors.
In an online letter to the Clear Street team, Pento says: “Building this business with each of you has been one of the most professionally rewarding experiences of my career.
“We have full confidence in Ed’s ability to lead [Clear Street], as he brings his leadership strength and proven experience running a global organisation to the CEO role.
“Ed has quickly gotten up to speed. During this transition, Ed and I will work closely together to ensure a smooth handover, and your roles and responsibilities will remain unchanged.”
Tilly comments: “What Chris has achieved for Clear Street since the founding in 2018 is extraordinary, and I’m grateful for his vision and commitment to this innovative business.
“In a landscape dominated by legacy players, Chris had the vision to combine a cloud-native tech platform with non-bank prime-brokerage and a relentless customer-centric focus. That’s a winning combination that we are repeating and scaling across markets, client types and geographies.”
Effective at the end of 2024, Pento will leave his current role as CEO, having served in the position for six years.
In July, Tilly became president at Clear Street where he was to work alongside Pento to lead Clear Street through the next phase of its growth.
Tilly joined the cloud-native financial technology firm after a decade-long tenure as CEO at Cboe Global Markets. Here, he was instrumental in growing market capitalisation from US$2.0 billion to more than US$18.0 billion.
He was the “driving force” behind transactions such as the Cboe’s 2017 acquisition of BATS Global Markets and products including zero-days-to-expiration (0DTE) options.
Pento, alongside Uriel Cohen and Sachin Kumar, co-founded and helped to build the New York-based firm in 2018. He has since worked as an operator running the day-to-day business.
Pento will assume an executive and partner role at White Bay, the family office of co-founder Cohen. He will also remain on the board of directors.
In an online letter to the Clear Street team, Pento says: “Building this business with each of you has been one of the most professionally rewarding experiences of my career.
“We have full confidence in Ed’s ability to lead [Clear Street], as he brings his leadership strength and proven experience running a global organisation to the CEO role.
“Ed has quickly gotten up to speed. During this transition, Ed and I will work closely together to ensure a smooth handover, and your roles and responsibilities will remain unchanged.”
Tilly comments: “What Chris has achieved for Clear Street since the founding in 2018 is extraordinary, and I’m grateful for his vision and commitment to this innovative business.
“In a landscape dominated by legacy players, Chris had the vision to combine a cloud-native tech platform with non-bank prime-brokerage and a relentless customer-centric focus. That’s a winning combination that we are repeating and scaling across markets, client types and geographies.”
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