I.A. Englander throws in the towel on prime services
01 April 2014 New York
Image: Shutterstock
I.A. Englander & Co. has agreed to transfer its managed account and prime services platform to Concept Capital Markets.
After reviewing the quality of service it seeks to provide to all of its clients, I.A. Englander concluded that its resources are best aligned with other parts of the marketplace and that transferring MA&PS to Concept Capital would in the best interest of its clients and employees.
鈥淐oncept Capital has continued to demonstrate a commitment to the prime brokerage business through investments in personnel and technologies that combine to deliver a comprehensive set of solutions for investment managers and those that allocate to them.鈥�
鈥淥ur clients could potentially benefit from these solutions and our employees may be better able to extend their reach into the alternative investment manager space with the additional tools available to them,鈥� commented Stephen Tobias, CEO of I.A. Englander & Co.
Joining Concept Capital will be Harry Freda, Nick Rizzi and Bob Chicoine in the New York branch, and Matt Pringle, Georgia Goodman, and Bob Wibbelsman in the California branch.
Additional personnel and account transfers between the firms may take place as well as details are finalised between the parties.
鈥淲e are pleased to welcome our new colleagues to Concept Capital and excited for the opportunity to introduce our firm and its capabilities to them and their clients. With a diverse range of experiences and skill sets that include prime brokerage, launching hedge funds, portfolio management, research, sales and trading, clearance and settlement, financial operations, compliance, technology, and customer support, we believe the Concept team is uniquely equipped to understand and anticipate our clients鈥� needs and preferences and deliver on those,鈥� said Jack Seibald, co-founder and managing member.
After reviewing the quality of service it seeks to provide to all of its clients, I.A. Englander concluded that its resources are best aligned with other parts of the marketplace and that transferring MA&PS to Concept Capital would in the best interest of its clients and employees.
鈥淐oncept Capital has continued to demonstrate a commitment to the prime brokerage business through investments in personnel and technologies that combine to deliver a comprehensive set of solutions for investment managers and those that allocate to them.鈥�
鈥淥ur clients could potentially benefit from these solutions and our employees may be better able to extend their reach into the alternative investment manager space with the additional tools available to them,鈥� commented Stephen Tobias, CEO of I.A. Englander & Co.
Joining Concept Capital will be Harry Freda, Nick Rizzi and Bob Chicoine in the New York branch, and Matt Pringle, Georgia Goodman, and Bob Wibbelsman in the California branch.
Additional personnel and account transfers between the firms may take place as well as details are finalised between the parties.
鈥淲e are pleased to welcome our new colleagues to Concept Capital and excited for the opportunity to introduce our firm and its capabilities to them and their clients. With a diverse range of experiences and skill sets that include prime brokerage, launching hedge funds, portfolio management, research, sales and trading, clearance and settlement, financial operations, compliance, technology, and customer support, we believe the Concept team is uniquely equipped to understand and anticipate our clients鈥� needs and preferences and deliver on those,鈥� said Jack Seibald, co-founder and managing member.
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