Incoming managing director brings 14 years’ worth of prime brokerage and hedge fund experience to Clear Street, having previously served at Cowen, Global Prime Partners and BNP Paribas.
INTL FCStone expanded into the US prime services market at the back-end of last year after it brought on three former senior executives at Cowen Group.
The US prime brokerage market as seen a number of new entrants over the years, following an industry-wide descaling of hedge fund clients by the big banks.
Seasoned veterans are leaving capital introduction roles leading to questions over whether it is a sustainable business or just a value-add. Joe Parsons investigates whether new players are stepping in to fill the void.