Joseph A. Schenk Joins First New York Securities as a Managing Member

NEW YORK--(BUSINESS WIRE)--First New York Securities, a diversified global proprietary trading firm, announced today that Joseph A. Schenk has joined the firm as a Managing Member. In his new role, Mr. Schenk will be involved in the management of the firm and oversee the development and growth of new business lines.

Commenting on the appointment, Donald Erenberg, Managing Member of First New York Securities said, “We are extremely pleased to have Joe as a member of the management team. He has a deep understanding of the industry and a strong track record and I believe he will be a valuable addition as we seek to further build First New York into a highly successful and diversified global financial services firm.”

Mr. Schenk added, “To me, First New York represents a tremendous opportunity. The firm has a strong balance sheet, a robust platform and the ability to significantly expand their business. I look forward to helping develop a variety of new principal and client-oriented businesses that can capitalize on the culture and the attributes of this great franchise.”

Mr. Schenk served as Executive Vice President and CFO of Jefferies Group, Inc. (NYSE: JEF) from 1999-2007 where he was responsible for finance, accounting, risk, treasury, investor relations, as well as the integration of operations and technology. He was also integral in the origination and execution of several successful acquisitions which helped Jefferies grew to more than 2,500 employees with investment banking and securities trading operations throughout the world. Most recently Mr. Schenk served as the CEO of Pali Capital, a diversified financial services firm based in New York.

Founded in 1986, First New York Securities is a premier global proprietary trading firm. The firm’s diverse trading business spans multiple asset classes including equities, derivatives, fixed income, foreign exchange and commodities, and is backed by a state-of-the-art technology platform. Headquartered in New York City, with international operations based in London, the firm has more than 300 employees. To learn more about First New York Securities visit www.FirstNY.com.