Saturday, 28 March 2015
Last updated 20 hours ago
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.”
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…