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Crain’s Chicago Business: Dash Financial Merger Aids GTCR Investment

Mark Dowd

Mark Dowd

The merger that creates Dash Financial Technologies today also advances a long-time investment in the industry for Chicago private-equity firm GTCR.

GTCR initially bought into the New York-based broker and technology firm Convergex in 2006, and added Chicago-based LiquidPoint to the business the following year. Now, GTCR is lifting LiquidPoint out of Convergex to combine it with New York-based Dash Financial.

Dash Financial Technologies may gain new advantages by knitting together technology tools, execution services, and analytics in a suite of products that CEO Peter Maragos said offers more transparency to clients than do some rivals.

The newly formed company will have some 500 clients, including banks, broker-dealers, exchanges, hedge funds and pension funds, and 140 employees, with the bulk of those workers in Chicago.

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