Quadriserv Goes With Co-CEOs

Quadriserv, which operates a central counterparty-based market named AQS, has announced that Pasquale Cestaro and Bruce Turner will serve as co-CEOs. Thomas Perna, who will continue as the company's chairman, will step down from the role.

"The combination of Pat, who brings his experience in working with the biggest players in the securities lending industry, and Bruce, who has led securities trading, technology and market structure initiatives for brokerages and exchanges for two decades, will further enhance our capabilities in meeting the needs of clients," Perna says.

Cestaro and Turner will look to expand the volume of electronic securities lending and borrowing on AQS, which offers automated securities lending trading in more than 5,000 underlying equity, exchange-traded fund and American depository receipt.