Anthony G. Blumberg

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Anthony Blumberg
Occupation Executive Managing Director
Employer BNY ConvergEx Group (formerly)

Anthony Blumberg is the former executive managing director of BNY ConvergEx Group, LLC and chief executive officer of ConvergEx Global Markets Ltd. He left ConvergEx in December 2013, in the wake of a scheme involving the routing of orders to a Bermuda subsidiary and marking the trades up or down in order to overcharge investors. [1] The firm plead guilty and accepted a fine of $150 million.[2][3][4]

In August 2014, the U.S. Securities and Exchange Commission and the Department of Justice charged Blumberg for deceiving customers, making false and misleading statements to customers, and for directing employees to deceive customers and falsify documents.[5][6]

Background

In 1997 Blumberg joined Credit Lyonnais Securities as a Managing Director, where he established G-Trade Services, which received several top industry rankings and was sold to The Bank of New York in 2002. Between 1986 and 1997, he held a number of positions at BHF Securities and Citibank, NA in New York, where he helped to establish Citibank’s global equity and fixed income execution and clearing network in more than 65 countries. Blumberg was also an active floor-trading member of the NYMEX, COMEX and FINEX Futures and Options Exchanges for more than 5 years.[7]

Education

He graduated with distinction from Eden College and The University of South Africa. He also served with honor in the South African Air Force.

References

  1. Investors shun Wall Street broker ConvergEx. Financial Times.
  2. NY Judge Scolds SEC Over ‘Cryptic’ ConvergEx Complaint. Law360.
  3. Reluctant Voices. ai-cio.org.
  4. SECURITIES AND EXCHANGE COMMISSION v. ANTHONY G. BLUMBERG. U.S. SEC.
  5. SEC Charges Former CEO of ConvergEx Subsidiary in Scheme to Deceive Customers About Trading Fees. SEC.
  6. Former head of GTCR's ConvergEx charged in trading-fee scheme. =Crain's Chicago Business.
  7. Our Leadership Team. BNY ConvergEx.