Eric Noll Plans Return to Wall Street – Soon
“It ain’t over til it’s over.”
That’s what former New York Yankee catcher Yogi Berra used to say when it came to the outcome of a baseball game. And according to Eric Noll, CEO of Convergex, who’s last day was yesterday as the acquisition of his firm has closed by rival Cowen & Co., the market can expect to see him resurface again – shortly.
In an exclusive conversation with Traders Magazine, Noll spoke of how he planned to return to the Wall Street equities market landscape after spending a brief time as a market free agent.
“I’m going to be sticking around the Street,” Noll told Traders Magazine. “I can’t give you any details just yet but I fully expect to remain in the industry and it won’t be too long until you see me again.”
Noll said that he’ll be taking some time off once his departure from Convergex is complete to rest and recharge. But he added that there are already some business and employment opportunities that he has been examining.
“I’m looking at some opportunities right now as we speak,” he said. “This is a great business and I love being in it.”
Noll confirmed he would remain a member and participant of the Securities and Exchange Commission’s Equity Market Structure Advisory Committee as long as it didn’t violate any of the statutes required for participation.
He looked back at his three years at Convergex fondly, recalling the turmoil surrounding the firm when he arrived in November 2013 – client dissatisfaction, clients unhappy, plummeting employee morale – and how he and his staff managed to rebuild the business, restore confidence and profitability. Convergex was in the midst of settling charges it had concealed markups on stock trades.
“We stabilized Convergex,” Noll recalled. “With the help of some very talented people, we grew the business back over the three years and in an environment of declining rates and volumes. It was a very positive experience. I enjoyed it and was pleased to be a part of growing that business back and to a successful exit.”
But all good things must come to an end. And Noll always knew that his tenure at Convergex, which was backed by private equity, had a start date and an end date. And now that date has finally arrived.
“It was a great experience. I knew when I joined their goal was to get it to an end,” Noll said. “It was always part of the understanding that I would eventually wind up at this point.”
Noll began his career on Wall Street back in 1993 as an Assistant Vice President on the Philadelphia Stock Exchange in strategic planning. He then moved to the buy-side at Susquehanna International in 1994 as a Managing Director. He spent 15 years at SIG.
In July 2009, he joined exchange operator Nasdaq as an Executive Vice President in the Transaction Services Group. It was here that Noll became a mainstay of the capital markets, speaking at myriad industry events, lecturing and becoming an authority of the equity market structure. He arrived at Convergex in November 2013.
And Noll isn’t done just yet.
“I can tell you this, you will hear from me shortly.”
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