Joseph M. Velli

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Joseph M. Velli
Occupation Chairman and CEO
Employer BNY ConvergEx Group, LLC

Joseph M. Velli is the former chairman and chief executive officer of ConvergEx Group, LLC, a provider of global agency brokerage and investment technology. Before the formation of BNY ConvergEx Group, he was senior executive vice president of The Bank of New York and CEO of BNY Securities Group. [1]

He joined the board of directors of E*TRADE FINANCIAL on January 25, 2010.[2]

Velli has also been elected a member of the board of directors at Paychex, Inc. Headquartered in Rochester, New York, Paychex Inc. is a provider of payroll, human resource, and benefits outsourcing solutions for small- to medium-sized businesses.[3]


Velli joined The Bank of New York in 1984 as an assistant vice president, where he established the Bank’s depositary receipt business. He was promoted to vice president in March 1985 and senior vice president in 1988. In 1990, he was named sector head of the global issuer services area. He was elected an executive vice president in May 1992. In September 1998, Velli was promoted to senior executive vice president, assuming responsibility for consumer banking, in addition to global issuer services and was also named a member of the Bank’s senior policy committee.

In 1997, Velli established the Bank’s institutional brokerage business. In August 2001, he was named head of the brokerage and clearing sector, a newly formed unit that combined the Bank’s trade execution and clearing businesses, which was later branded as BNY Securities Group. Under Velli’s leadership, BNY Securities Group acquired Pershing LLC, the world’s largest correspondent clearing firm.

Before joining The Bank of New York, Velli was head of Citibank’s depositary receipt business.[4]


Velli holds an MBA in finance from Fairleigh Dickinson University and a BA in accounting from William Paterson University of New Jersey.