Wedbush Securities Expands into FX Prime Brokerage with the Hire of Michael Stone

Industry Veteran joins as Senior Vice President, Head of FX Prime Brokerage

Wedbush Securities, one of the nation’s leading diversified independent financial services providers, announces the expansion into FX Prime Brokerage services directed by industry veteran, Michael Stone as Senior Vice President. The firm will begin this offering in May 2023 and rounds out its multi-asset clearing services. FX will be part of the newly named Fixed Income, Currencies, Commodities, and Securities Finance (“FICCS”) Division of Wedbush Securities, led by EVP Bob Fitzsimmons.

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Michael Stone, Senior Vice President, FX Prime Brokerage, Wedbush Securities (Photo: Business Wire)

Prior to joining Wedbush, Stone spent the past three decades in FX Prime Brokerage, as part of the team at ABN AMRO Bank, one of the first entrants in the FX Prime Brokerage space; and at Prudential Bache (later acquired by Jefferies) to create a similar offering. James Peckham, Ray Cera, and Stephen Lamb, all previously at Jefferies, join Stone in building out the business unit at Wedbush. Stone states, “I, and my team from Jefferies, are very excited to join a firm that is so highly regarded in the Futures space, and look forward to building a business that adds value to mid-level corporates and professional trading groups who are perpetually in need of access to high-quality liquidity on reasonable credit terms.”

Bob Fitzsimmons adds, “With our launch into FX Prime Brokerage and having one of the best FX teams in the business, this definitely adds an extra level of service and investment opportunities for our clients.”

Michael earned his bachelor’s degree from DePaul University. He will be working out of the firm’s FICCS Division office in Chicago, IL.

About Wedbush Securities

Wedbush Securities is the largest subsidiary of Wedbush Financial Services. Since its founding in 1955, Wedbush has been a leader in the financial services industry, providing our clients, both private and institutional, with a wide range of securities brokerage, wealth management, and investment banking services. Headquartered in Los Angeles, California with 100 registered offices and nearly 900 colleagues, the firm focuses on client service and financial safety, innovation, and the utilization of advanced technology.

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