Tuesday, 28 June 2016
Last updated 22 min ago
Apr 8 2008 | 9:59am ET
Prime brokerage and agency execution firm Shoreline Trading Group has added industry veteran Donald Marigliano to its prime brokerage sales team.
Marigliano joins the New York-based firm from Lehman Brothers. He has also worked at Goldman Sachs and Neuberger Berman in his 20 years in the industry.
“Any time that a 20-year veteran becomes available, it helps us build the strategy out,” Mike Murray, principal at Shoreline, said. “People like this are very difficult to come across.”
“Lehman and some of the larger firms just focus on the billion-dollar funds,” Marigliano said. “I thought there was a great opportunity for some of the funds that weren’t getting that attention, but were still valuable clients, to work with a firm that would be able to service those clients. Shoreline, of all the introducing, mini-prime firms, has the broadest offering and is able to offer services that many of the others do not.”
Shoreline offers its clients access to custody, execution, clearing and reporting services from Bear Stearns, Credit Suisse and Goldman Sachs.
Murray also said Shoreline and its clients have weathered the turmoil surrounding Bear Stearns.
“Bear Stearns is still a good clearing alternative for clients,” he said. “If clients are uncomfortable and need to hedge that, that’s where the relationship with the other two firms comes in handy.”
He adds that Shoreline plans to maintain a relationship with Bear following its proposed acquisition by JPMorgan Chase.