Conifer Buys Morgan Stanley’s Outsourced Trading Business

Apr 9 2008 | 10:41am ET

Conifer Securities, which specializes in providing middle- and back-office services to hedge funds, has agreed to purchase Morgan Stanley’s Outsourced Trading business.

Morgan Stanley will continue to offer prime brokerage services to its Outsourced Trading clients, while it moves its New York-based trading team, under the leadership of William Byrne, to Conifer’s New York office.
 
The move is aimed at boosting Conifer’s ability to provide independent trade execution in equities, options, exchange traded funds and related products to its hedge fund clients. 

Terms of the transaction, due to close at the end of April, were not disclosed.
 
“This is our first acquisition complimenting nearly 20 years of solid organic growth,” said Phil Stapleton, Conifer’s chairman. “We continue to look for new avenues of global expansion to serve our growing client base.”


In Depth

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of