BTIG Beefs Up Prime Brokerage Unit

Aug 4 2010 | 9:43am ET

Broker dealer BTIG is expanding its prime brokerage platform with two new hires. Mike McCuin and Adrianne Schulte have joined BTIG and will be working out of the firm's Boston office.

“We view Boston as an important strategic market. Having a local presence is vital to our success and demonstrates BTIG's commitment to the Boston investment community,” said Justin Press, co-head of prime brokerage at BTIG.

In his new role, McCuin will work in prime brokerage sales. Most recently, McCuin was in business development at Kaufman Rossin Fund Services.  Prior to Kaufman Rossin, McCuin held positions at JP Morgan Prime Brokerage and CIBC World Markets. 

Meanwhile, Schulte will focus on prime brokerage relationship management.  Most recently, Schulte was in Client Services at JP Morgan prime brokerage in New York. Prior to JP Morgan, Schulte was at Gemini Fund Services.  

“Given the number of hedge funds in Boston right now and the expected new launches in the next few years, we think now is the time to add dedicated Prime Brokerage staff here,” said Dan Patterson, managing director and head of BTIG’s Boston office.  “We expect new funds will be started by professionals currently at the larger institutions we cover in Boston and we are well positioned to become a strategic partner to them as they go through the start-up phase of their next venture.”

BTIG’s Prime Brokerage division was launched in January 2004 and caters to start-up and existing equity & fixed income hedge funds.  The division has offices in New York, San Francisco, Dallas and Boston.

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