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Cantor Fitzgerald creates prime brokerage business

Cantor Fitzgerald has appointed Noel Kimmel as senior managing director to head its new prime brokerage business.

Kimmel joins Cantor from JP Morgan, where he has served as North American head of sales and marketing for the fixed income prime brokerage division.

Shawn Matthews, chief executive of Cantor Fitzgerald, says: 'Our customers have been asking us to develop a prime services business to help meet their needs. 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. His talent, experience, and breadth of relationships in the marketplace, combined with Cantor's financial strength, are an ideal combination as we expand the solutions, services and support we offer across fixed income and equities sales and trading, investment banking as well as prime brokerage.'

Kimmel says: 'This is an excellent time in the marketplace to capitalize on the opportunity to continue to add value to Cantor's clients. I am excited and proud to join Cantor's growing team, and look forward to helping Cantor build an even greater market franchise by listening to our clients and developing services that meet their requirements.'

While at JP Morgan, Kimmel's responsibilities have encompassed fixed income securities prime brokerage, credit and interest rate derivatives intermediation, and foreign exchange and commodities prime brokerage.

Earlier, he was a senior managing director at Bear Stearns, where he was responsible for sales and relationships in the fixed income prime brokerage business, and served as a member of the senior relationship management group, prime brokerage operating committee, and the firm's global hedge fund relationship management effort.

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