Leadership Transition Plan with New CFO, CCO, & COO for Clear Street

Steve Bisgay has assumed the role of CFO at the fintech firm Clear Street, effective immediately. Bisgay takes over the top financial position, succeeding Jacob Asbury, who has held the role of CFO for Clear Street for the past two years. Asbury will remain involved with the company in a consulting capacity to aid in the transition process.

In addition to Bisgay’s appointment, Clear Street has appointed two other executives. Ursula Clay will serve as Chief Compliance Officer, and Brent Posner will take on the role of Chief Operating Officer for Clear Street Futures.

Clear Street, a New York-based fintech founded in 2018, has experienced impressive growth in recent years, particularly after securing a $270 million investment from Prysm Capital in April as part of a larger $435 million Series B funding round, valuing the company at $2 billion.

In conjunction with its recent funding, Clear Street has made significant additions to its leadership team, indicating plans for product and geographic expansion. This expansion necessitates a focus on capital adequacy, requiring collaboration with the executive team to determine the capital base required for such growth.

As Bisgay assumes his role as CFO, he intends to conduct an organizational assessment of the finance department, examining processes, technology, and resource depth to ensure it is prepared for Clear Street’s continued growth. He emphasized the importance of having an effective and well-equipped financial organization to support the company’s expansion. Currently, Clear Street employs over 400 people, and the finance team is appropriately sized for this workforce.

Prior to joining Clear Street, Steve Bisgay held various senior financial roles, including an eight-year tenure as CFO and Executive Managing Director at Cantor Fitzgerald. He also served as CFO for BGC Partners, KCG Holdings, and Knight Capital Group, in addition to working as a senior manager at the Big Four accounting firm PricewaterhouseCoopers.

Ursula Clay, the new Chief Compliance Officer, comes to Clear Street from Nearwater Capital, where she served as Managing Director and CCO. She has also held senior positions at the Financial Industry Regulatory Authority, as well as at banks Morgan Stanley and Barclays. Brent Posner, the new Chief Operating Officer for Clear Street Futures, most recently held the position of SVP and COO at ED&F Man Capital Markets.

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