Investment bank FBR Capital Markets is getting in on the prime brokerage game. The firm has hired a veteran team from Shoreline Trading Group to form the core of the new initiative, which will utilize J.P.Morgan Clearing Corp. as custodian and clearing agent.
FBR Capital Markets' new prime brokerage unit, which is based in New York, will be led by Michael Murray, managing director and head of prime brokerage services, and Matthew Ventura, managing director and head of prime brokerage operations. Joining them are Paul Havens and Donald Marigliano, both as senior vice presidents, prime brokerage sales. The four hail from Shoreline Trading Group.
"With our new team, FBR Capital Markets has created the most complete and attractive introducing prime brokerage service available," said Richard Hendrix, president and CEO of FBR Capital Markets. "We can offer clients first-class customer service, a comprehensive portfolio of equity and debt capital markets solutions, and the peace of mind that comes with having access to a leading clearing agent.”
FBR Capital Markets provides investment banking, merger and acquisition advisory, institutional brokerage and research services through its subsidiary FBR Capital Markets & Co. FBR Capital Markets focuses capital and financial expertise on seven industry sectors: consumer; diversified industrials; energy & natural resources; financial institutions; insurance; real estate; and technology, media & telecom. Asset management services are provided by FBR Investment Management, and mutual funds are provided by FBR Fund Advisers. FBR Capital Markets is headquartered in the Washington, D.C. metropolitan area with offices throughout the United States and in London.