Penson Worldwide Names Former BofA Merrill Exec as Director

Diane L. Schueneman has been appointed independent director of Penson Worldwide, Inc.  

The Penson Worldwide group of companies provides execution, clearing, custody, settlement and technology infrastructure products and services to financial services firms. The group of companies includes Penson Financial Services, Inc., Penson Financial Services Canada Inc., Penson Financial Services Ltd., Nexa Technologies, Inc., Penson Asia Limited, and Penson Financial Services Australia Pty Ltd.

Schueneman is filling the vacancy left by David A. Reed, who resigned last Friday.

Schueneman previously served as senior vice president and head of Global Infrastructure Solutions of BofA Merrill Lynch (formerly, Merrill Lynch & Co. Inc.) from April 2006 to 2008, where she was responsible for all technology, infrastructure, client services and operations worldwide for Capital Markets, Private Wealth and Asset Management. Prior to that, she was head of Global Operations & Infrastructure Services of BofA Merrill Lynch from October 2004 to April 2006.

Schueneman started her career at Merrill in 1971 as an account executive in Institutional Sales. Subsequently, she served in a number of roles with increasing responsibility in International Equities in the UK, Global Futures Execution and Clearing Services, Global Fixed Income and Derivative Operations, Operations and Administration for Merrill Lynch Investment Managers worldwide and Global Private Client Services & Technology Division, where she was responsible for all banking and brokerage services and technology provided to Merrill’s retail, middle market and 401(k) clients.

Schueneman currently is a non-executive director of ICAP plc. She also has served as a director of Depository Trust & Clearing Corporation (DTCC); a Member of Global Board of Managers of Omgeo, LLC, which automates trade lifecycle events between investment managers, broker/dealers and custodian banks; and a director of Capco Group, which provides integrated consulting, technology and transformation services to the financial services industry in North America and internationally.