Cantor Fitzgerald Enters Prime Brokerage Biz

Jul 22 2009 | 12:56pm ET

The prime brokerage space just got a bit more crowded: Cantor Fitzgerald has set up its own prime brokerage business, hiring a JPMorgan Chase veteran to lead the new effort.

The financial services firm snagged Noel Kimmel to head its prime brokerage. Kimmel most recently served as head of sales and marketing for JPMorgan’s fixed-income prime brokerage in North America. He worked at Bear Stearns’ prime brokerage before joining JPMorgan.

“Our customers have been asking us to develop a prime services business to help meet their needs,” Shawn Matthews, Cantor CEO, said. “The mid-market in particular has been underserved by the largest banks. Noel will focus on creating our equity and fixed income prime brokerage offering.”

Cantor enters the increasingly crowded prime brokerage space as more established firms seek to increase their market share amid the shakeup in the hedge fund industry. The firm is perhaps best known for losing 658 employees at the World Trade Center, on Sept. 11, 2001.


In Depth

AIMA: Smaller Firms Remain the Lifeblood of the Hedge Fund Industry

Jul 26 2017 | 5:55pm ET

It is a hedge fund industry truism that the largest managers receive the most attention...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Rastegar: PE Real Estate Gains Momentum as Uncertainty Rises

Jul 21 2017 | 6:04pm ET

The steady march of equity markets and fundamental shift in the direction of Fed...

 

From the current issue of