Pete has extensive executive and management experience advising on Brokerage Platform and Correspondent Clearing Alternatives. He began his career 35 years ago at Wheat, First Securities where he was a member of the “Management Fast Track Program”.  Pete worked in all facets of Brokerage Operations and took on various supervisory and management positions. Ultimately he was appointed Director of Operations of First Clearing, the clearing arm and subsidiary of Wachovia Securities (now Wells Fargo Advisors). Pete expanded his career by joining the Correspondent Clearing Services division of Wachovia Securities as a Segment Director, where he oversaw top tier client relationship management and assumed numerous roles in Product Development and Sales.  At Oyster, Pete created the Brokerage Clearing and Platform Advisory Services.

Expertise

  • Director of Clearing and Platform Advisory Services
  • Serves in the business development division of Oyster Consulting
  • Works with major platform providers and retail/bank brokerage firms on strategic initiatives including strategic planning, clearing decisions, platform changes and providers, and other new business opportunities
  • Served as Segment Director of a leading, national clearing firm in charge of top tier client relationship management
  • Acted in various capacities relating to product development and sales for top-ranked clearing firm
  • Served as Director of Operations for a National Brokerage/Clearing firm heading both service and support groups including Client, Branch, and Account Services, Trading Support, Clearance and Settlement, Cashiering, Workflow & Automation, IRA and Packaged Products
  • Headed the efforts of various broker-dealers, banks and independent firm mergers including, at the time, the street’s largest retail firm conversion (Prudential Securities into First Union Securities)
  • Led the Operations portion of a large, super-regional brokerage firm merger
  • As Senior Manager in the Operations Division of a national firm, responsible for creation and development of automated platform utilizing current technologies to take operations into next generation

Career Highlights

  • Director of Clearing and Platform Advisor/Business Development at Oyster Consulting
  • Segment Director, First Clearing Correspondent Services
  • Director of Operations, Heading Service and Support Groups, First Clearing Corporation
  • Senior Manager, First Clearing Corporation
  • Multiple Management positions throughout Brokerage Operations including Margin, Reorg,
  • Dividends, Money Market and Packaged Products
  • Management Trainee in Brokerage Operations, Wheat First Securities

Education, Accolades and Industry Commitments

  • B.S., Business Administration – Finance, Virginia Commonwealth University
  • FINRA Series 7 registration (Registrations are typically inactive, but may be used when appropriate to perform interim functions for our clients)
  • Virginia Commonwealth University Cooperative Education Program