IA Englander & Co has agreed to transfer its managed account and prime services platform (MA&PS) to Concept Capital Markets.
IA Englander says its resources are best aligned with other parts of the marketplace and that transferring MA&PS to Concept Capital is in the best interest of its clients and employees.
“Concept 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. Our 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,” says Stephen Tobias, chief executive officer of IA Englander & Co.
Joining Concept Capital will be Harry Freda, Nick Rizzi and Bob Chicoine in the Purchase, NY branch, and Matt Pringle, Georgia Goodman, and Bob Wibbelsman in the Santa Monica, CA branch. Additional personnel and account transfers between the firms may take place as well as details are finalised between the parties.
“We 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’ needs and preferences and deliver on those,” says Jack Seibald, co-founder and managing member, Concept Capital.