GPP appoints SGSS as settlement agent for clearing business
The partnership bolsters SGSS’ post-trade coverage for mid-tier broker-dealers in Europe.
The partnership bolsters SGSS’ post-trade coverage for mid-tier broker-dealers in Europe.
The mounting cost of regulation and capital requirements, coupled with the significant drop in new hedge fund launches, could pose an end to the mini-prime broker business.
The firm will begin an orderly wind-down of the business, which is anticipated to take up to 12 months to complete.
The prime broker continues to add to its growing roster with the addition of Morgan Stanley's former client coverage COO.
The New York-based firm is aiming to become the partner of choice for hedge funds that are diversifying their prime brokerage partners.
The appointment for the newly-created role is part of GPP’s strategic expansion of its senior leadership team.
Todd Johnson has previously worked as head of international prime brokerage at Deutsche Bank, and head of European prime brokerage at Citi.