Robert Novembre

CEO & President

Robert started his career in 1991 at Smith Barney Harris Upham's Fixed Income department, which eventually became Citigroup. He spent the first 18.5 years of his career in the capital markets trading division at Citigroup. Starting in a position focusing on trade support for sales and trading, he quickly moved to the trading desk. Initially, Robert covered a variety of security classes, including Certificate of Deposit, Commercial Paper, Auction Rate Securities (ARS), Variable Rate Demand Bonds and Municipal Notes. In March 2002, Robert took over as the head of ARS syndicate and trading desks. He was responsible for growing and managing Citi's ARS portfolio from approximately $22 billion to $72 billion by 2007. The ARS book included securities ranging from tax-exempt debt to taxable ABS debt and corporate preferred stock. In 2007, he was named the head of all the short-term �tax-exempt syndicate and trading desks as well as the head of the tax-exempt and taxable ARS portfolio. In 2008, he also assumed a co-manager role for the institutional sales desk while continuing management of the syndicate and trading desks. Robert resigned from Citigroup as a Managing Director in October 2009 to accept a position at Arbor Research & Trading. He maintained the role of Managing Director responsible for creating and managing municipal bond sales, trading and remarketing from 2010 to 2014. Robert's department covered tax-exempt and taxable municipal along the entire curve.In 2014, Robert completed the transition of all municipal trading responsibilities to Arbor Research & Trading's main trading team and he founded Clarity BidRate Alternative Trading System (Clarity). Since inception, he has served in the roles of CEO & President of Clarity, operating as a division of Arbor Research & Trading LLC. Robert leveraged technology to create a modern trading platform in order to promote competitive pricing, transparency, improved accessibility and a centralization of specific variable rate markets. Clarity is designed to primarily support and revolutionize the variable debt sector. In addition, he has successfully assembled a Tier 1 team in the variable rate sector to build, sustain and market Clarity. Robert, the architect of Clarity, is responsible for managing and leading in all aspects of Clarity, including working directly with issuers and investors.Robert graduated from Boston University in 1991 with a Bachelor of Arts in International Relations/Economics Track. Additionally, Robert graduated in 1998 from Fordham University with a Masters in Business Administration in Finance/International Business designation.�