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.