Clear Street, a New York-based independent prime broker, has announced the appointment of former CBOE chief Edward Tilly as its new president. Tilly will collaborate closely with CEO Chris Pento to guide the fintech through its next phase of growth.
Clear Street, currently valued at $2.1 billion, offers cloud-native clearing, custody, and prime brokerage services to institutional investors and traders. Since its launch in 2018, the company has experienced significant growth, with Pento noting that its main business revenue has increased by more than 50% annually on average, and this growth is accelerating in 2024.
Pento expressed enthusiasm about Tilly’s addition to the executive team, stating, “The time is right for us to welcome Ed to the executive team as we continue to super-charge our growth plans and take Clear Street to the next level.”
Tilly joins Clear Street after a decade-long tenure as chairman and CEO of CBOE Capital Markets, a global exchange operator and financial market infrastructure provider based in Chicago. During his leadership, Tilly played a crucial role in increasing CBOE’s market capitalization from $2 billion to over $18 billion. He is also recognized for driving transformative transactions, including the acquisition of BATS Global Markets in 2017.
Commenting on his new role, Tilly said, “Having spent more than thirty years in the financial markets hyper-focused on innovation and accessibility, Clear Street has an exciting opportunity, and I am looking forward to working with Chris and his team.”
Tilly’s appointment follows a series of strategic hires at Clear Street, including Jon Daplyn as chief information officer and Hari Godbole as managing director and vice president of engineering, both of whom joined the firm in September.
