Gar Wood Adds To Cap. Intro. Team

Jan 6 2011 | 2:57am ET

Chicago-based mini-prime brokerage Gar Wood Securities has hired an industry veteran to lead the expansion of its capital introduction business.

John McCorvey has been named senior vice president of global prime brokerage at the firm. He joins from Direct Access Partners, where he served as a senior adviser of global prime services. He also worked at hedge fund administrator MadisonGrey.

“Gar Wood is committed to its client-centric approach, consistently delivering high-touch client service across all facets of our business,” CEO Bob Jersey said. “We are very pleased to have John join our team and we look forward to the added value that this strategic move brings to our clients.”

“The industry is changing rapidly and the prime brokerage service platform is evolving as well,” McCorvey said. “There have been a number of mini-prime mergers, acquisitions and closures recently as some of the larger investment banks have moved into the mid-tier space.

“Additionally, clearing firms have also culled their introducing prime brokerage relationships. Given the current climate, we believe the smaller hedge funds are being underserved. Our goal is to fill the void created by these market changes and provide an institutional-quality global prime solution for the small hedge fund universe.”


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...

 

From the current issue of

Versum Materials (VSM), with a market capitalization of $2.7 billion, enables chipmakers to achieve higher performance at lower cost with enhanced reliability. Versum is a leading global provider of electronic materials for the integrated circuit and flat-panel display markets.