Englander Brokerage Adds Prime Brokerage Co-Chief

Dec 4 2012 | 11:44am ET

Millennium Management chief Israel Englander's derivatives brokerage business has a new head of prime brokerage.

Israel A. Englander & Co. named Fredrick Scuteri a chief operating officer of prime services. He'll serve as co-head of the three-year-old business with Brett Yarkon.

Scuteri joins New York-based IA Englander from Thomson Reuters, where he was global head of the hedge fund strategy group. He formerly served as head of prime brokerage at Cuttone & Co.

"We are extremely excited to bring in a person with Fred's vast experience and deep knowledge," CEO Stephen Tobias, who co-founded IA Englander in 1977 with Englander, said. "As we continued to expand our capabilities, Fred will be growing our product offering and streamlining the operational workflow."

Englander remains a passive minority investor in IA Englander.

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