Economic Crisis Creates Perfect ‘Storm’ For Financial Services Firm

Jun 23 2009 | 12:31pm ET

A pair of former Citigroup executives has set up a new fixed-income financial services firm with 50 of their closest friends.

StormHarbour Partners expects to apply its extensive expertise in analyzing, structuring, distributing and originating fixed income securities across asset classes for its sophisticated pension fund, hedge fund, endowment, insurance, banking and corporate clientele.

StormHarbour has certainly been busy on the hiring front. In addition to founders Antonia Cacorino and Fredrick Chapey, the New York-based firm has snagged professionals from Bear Stearns, the Carlyle Group and Novator Partners, as well as several other Citi veterans. All told, the new firm boasts 50 professionals.

“StormHarbour was created to fill a need for an experienced international fixed income firm free of conflicts in today’s evolving financial services arena,” Chapey, formerly head of global structured credit derivatives at Citi, said. “With offices in strategic financial centers, StormHarbour will provide worldwide coverage and efficient execution across the fixed-income asset class.”

Chapey’s partner, Cacorino, most recently served as co-head of Citi’s investor client group. StormHarbour, which also has an office in London and plans to expand to Switzerland and Asia, includes two other ex-Citi execs. as managing principals: former head of European credit products distribution Robert Cummings and former legacy assets remediation chief Sohail Kahn.

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