Sunday, 29 May 2016
Last updated 2 days ago
Jan 30 2012 | 1:36pm ET
As its clients begin to look to raise more money, prime brokerage Global Prime Partners is planning to help.
The London-based boutique plans to add capital introduction services beginning this summer. What those services—expected to include marketing—actually look like will depend on who the firm hires to lead it.
"Right now, it's a wide-ranging mandate," Kevin LoPrimo, global head of hedge fund services and equity finance, told HFMWeek. "We will look to define the role more closely once the hire is in place."
LoPrimo said he was "passively" interviewing for the role and would intensify the search towards the end of the quarter. Global Prime plans to hire other professionals for the unit after picking its chief.
The one-and-a-half-year-old firm's clients—numbering about 40 with another 25 likely to come on board in the next few months—have begun to reach their first anniversary. LoPrimo said that those all-important track records are behind the firm's decision to expand, as its clients increasingly have the means to seek new investment.