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Direct Access Partners forms marketing unit

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Prime broker Direct Access Partners has formed a marketing practice.

The New York brokerage firm recruited a fundraising team from Channel Capital last month, adding four marketing professionals who have raised a combined USD1.5bn in recent years.

While other mini primes offer capital introduction, usually free of charge, Direct Access is thought to be the first to create a full-fledged marketing unit to help hedge fund clients raise capital. The firm will charge an undisclosed fee for the service.

The new team is led by Wall Street veteran George Lucaci (pictured), who joined Direct Access as a senior managing director. For the past 25 years, he has marketed a broad range of fixed income, foreign exchange and derivative products for Citigroup, Merrill Lynch and Nomura Securities.

Two of Lucaci’s lieutenants came aboard as managing directors. Eric Blessing spent seven years as a marketer for Channel, and before that served at First Union. Tom Boyle worked on capital raising for private equity firm Cliffe Capital before moving to Channel last year.

“We felt this was a perfect complement to our platform,” says Mark Salameh, director of sales and marketing for global prime services at Direct Access. “George comes with an extensive background of working with institutional investors, introducing them to managers and assisting throughout the capraising process.”

Founded in 2002, Direct Access provides trade execution across key asset classes — including equities, fixed income and options — in 119 countries.

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