Merlin Securities, a San Francisco-based provider of prime brokerage services and technology to hedge funds, funds of funds and long-only managers,
Merlin Securities, a San Francisco-based provider of prime brokerage services and technology to hedge funds, funds of funds and long-only managers, has appointed industry veteran Michael Tumulty to head its New York client services team, and has hired David Newman and Walter Paleski as account executives in the New York office.
“Merlin is benefiting from the monumental shift taking place in the prime brokerage industry, specifically the movement toward multiple prime brokers and a focus on custodial risk,” says Merlin senior partner and chief operating officer Aaron Vermut. “Having experienced account executives in place is critical to maintaining our commitment to outstanding client service.”
Tumulty has more than 25 years of financial services experience, mostly focused on prime brokerage. Most recently he was a director of financial client management at Merrill Lynch’s prime brokerage business, where he worked closely with the firm’s hedge fund clients, following 17 years with Bear Stearns as a director of hedge fund client services.
Newman is returning to the prime brokerage industry after a spell as co-founder and president of independent film company Holedigger Studios. Previously he was vice-president of operations for GH Associates and managed relationships with hedge fund clients at the prime brokerages of Banc of America Securities and ING Furman Selz.
Paleski has more than 20 years of industry experience, most recently as financial controller, operations manager and trader at CastleRock Asset Management. He was previously a senior account executive for prime brokerage clients at ING Furman Selz and Morgan Stanley, having begun his career with Shearson Lehman.
Merlin Securities provides single- and multi-prime hedge fund managers with dynamic performance attribution portfolio analytics and reporting.
