The Options Clearing Corporation (OCC) announced today the elections of Andrew D. Kolinsky, President of Citadel Execution Services; Philip A. Pendergraft, Chief Executive Officer at Penson Worldwide, Inc. and Tom Stern, CEO of optionsXpress International, to the OCC Board of Directors.
Mr. Kolinsky is President of Citadel Execution Services which is part of the Citadel Derivatives Group, one of the largest liquidity providers in Equities & Options in the United States. Previously he served as Managing Director and Head of Broker Dealers Sales and Marketing with Knight Capital Group where he was in charge of maintaining and growing the broker dealer business while also serving as a member of Executive Management, helping to lead in the overall direction of the company
Mr. Pendergraft serves as Chief Executive Officer at Penson Worldwide, Inc., one of the largest clearing brokers in the world. With more than 25 years in the securities industry, he has extensive experience, especially in regards to his work at affiliated Penson entities. In 1995, Mr. Pendergraft co-founded Penson Financial Services, Inc and throughout his career has been involved in the start up of three clearing operations.
Mr. Stern, CEO of optionsXpress International, is responsible for the development of international business with registered companies in Europe, Singapore, Australia and Canada. Additionally, he serves as the Chief Administrative Officer for optionsXpress Holdings (NASDAQ: OXPS) and CFO of optionsXpress and brokersXpress. He also acts as FINRA’s primary Executive Representative and FINOP for optionsXpress.
“We are pleased to be able to add these three distinguished new members to OCC's Board of Directors. Their industry experience and perspective will further enhance our Board,” said Wayne Luthringshausen, OCC Chairman and CEO.