Craig Lax has replaced Carey Pack as the head of ConvergEx’s Execution Services group.
Pack departed last month after running the broker-dealer’s trading operation since 2001. His departure comes shortly after the company sold off certain order management and trading software assets. The exec departed for personal reasons, a spokesperson for ConvergEx told Traders Magazine.
“Pack has decided to leave ConvergEx Group to pursue other interests, but we are very pleased that he will be staying on with the firm in a consulting position until the end of 2013,” the spokesperson said.
Lax is an executive managing director at ConvergEx Group and chief executive officer of G-Trade Services and ConvergEx Execution Solutions, member companies of ConvergEx.
“We have now combined under Mr. Lax the firm’s U.S. and international execution businesses which include sales trading, electronic execution and portfolio execution for buy-side and sell-side clients,” the spokesperson said.
