NEW YORK, Oct. 16, 2008 (GLOBE NEWSWIRE) -- Quadriserv, Inc. announced today that it has appointed Thomas J. Perna, formerly Senior Executive Vice President at The Bank of New York (NYSE:BK), as its Chief Executive Officer. The appointment formalizes Mr. Perna's ongoing leadership role at Quadriserv, which recently announced it is working with The Options Clearing Corporation ("OCC") to operate a centralized securities lending platform, AQS(tm). As Chief Executive Officer, Mr. Perna will leverage his decades-long track record of innovation and execution to ensure the successful commercialization of AQS, as well as oversee future growth opportunities.
Mr. Perna's financial services experience includes serving as Senior Executive Vice President at The Bank of New York. While there, he was instrumental in developing the bank into a preeminent financial services leader. At various times during his tenure, Mr. Perna oversaw Asset Servicing, Broker Dealer and Hedge Fund Services, as well as Financial Institutions Banking, among other service lines.
Gregory W. DePetris, Co-Founder of Quadriserv, commented, "During the last several years, Quadriserv has worked collaboratively with beneficial owners, the brokerage community and lenders and borrowers of equities to bring innovation and transparency to the securities lending market. These efforts are now paying tangible dividends, as underscored by our partnership with the OCC to operate AQS, a centralized securities lending platform. As our focus turns to commercialization and future growth opportunities, the Company is delighted to welcome Tom as our new Chief Executive Officer. During his tenure on Wall Street, Tom has earned the deep and abiding respect of his peers -- relationships that will be invaluable to Quadriserv going forward. Moreover, his proven execution skills and strategic acumen at the highest levels within the financial industry will serve us well as we accelerate our go-to-market strategy. We welcome Tom to the team, and look forward to his leadership."
"I believe that the future of the securities lending industry will look very different from its past, and over the last several years Quadriserv has thoughtfully and strategically pursued development of its centralized securities lending platform," added Mr. Perna. "My focus as CEO will be to help ensure the organization possesses the people, systems, and business strategy to grow its presence in the market and plan for future opportunities. It is an honor to join the existing Quadriserv team in this pursuit, and I believe the Company is well-positioned to seize a unique market opportunity."
Mr. Perna joined The Bank of New York in February 1986, when the bank acquired Fidata Trust Company (Bradford Trust Company), a supplier of processing services to the institutional marketplace, where he served as President and Chief Executive Officer. Prior to joining Fidata, Mr. Perna served in systems and operations positions with the New York Stock Exchange member firms of DeCoppett & Doremus and H. Hentz & Company. He served on the Boards of Directors of the Depository Trust & Clearing Corporation (DTCC), Euroclear Bank S.A. and Euroclear Clearance System Plc, Omgeo LLC, and is a member of a number of banking and securities industry associations.
About Quadriserv, Inc.
Quadriserv, Inc. is an independent New York-based provider of technology and business model innovation to the securities lending industry. Quadriserv has established itself as a leader in delivering transformational market structure changes to beneficial owners, agent and custodial banks, broker dealers and hedge funds. For more information, please visit www.quadriserv.com.