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Face to Face: Pat Cestaro, Quadriserv
05 October 2011
In July, industry veteran Pasquale “Pat” Cestaro emerged from a securities lending hiatus to join Quadriserv as a vice chairman. Global Investor/ISF spoke to him to find out what drew him back in. Annabelle Palmer reports
Read more:
Quadriserv
Pat Cestaro
securities lending
CCPs
OCC
AQS Direct
Global Investor/isf: You were hired to focus on business development and AQS’ interactions with the broker-dealer and prime brokerage sectors. Why is this important to Quadriserv?
Cestaro: Back when I ran Bear Stearns’ securities lending business I was unconvinced of the Quadriserv value proposition, but much to the credit of our co-founder, Greg DePetris, and our president, Bruce Turner, they listened attentively to the feedback from the large financial institutions and focused on what problems in the industry could be addressed. As a result of those discussions, AQS Direct came about as an additional venue to the AQS platform.
Broker dealers had asked for an automated venue, tailored to their needs, enabling high volume and large ticket transactions exclusively between OCC [Options Clearing Corporation] clearing members. Having been an active participant in the securities lending arena for over 30 years, I’m hoping I will be able to supplement such...
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