Merus Global Investments expands Florida trading operations to Miami
Merus Global Investments, a multi-strategy investment partnership, has opened a new trading facility in Miami’s financial district, and appointed two new partners, trading veterans Brook Bennett and Faraz Noorani.
The Miami office, the firm’s second to open in Florida within the past 18 months, will be headed by Noorani. Bennett will be based out of Merus Global’s headquarters in New York City.
Both Bennett and Noorani join Merus from Aecor Capital Management, an investment management firm they co-founded in 2017. The two bring a combined 35-plus years of trading experience to Merus and will help the firm continue on its accelerated growth path as one of the industry’s preeminent global trading firms. The team brings specific proficiencies in event-driven and special situation investment strategies, along with emerging expertise in SPAC (special-purpose acquisition company) investments.
“The addition of Brook and Faraz further strengthens the exceptional team of trading talent that underpins our overall approach and drives our multi-year track record of strong performance,” says Joseph Monte, CEO and Founding Partner of Merus Global Investments. “Their proven expertise around special situation, event-driven and SPAC investment strategies further diversifies our global capabilities.”
Bennett has more than two decades of experience in investment management, spending the majority of his career with FNY Capital Management, where he first met Noorani prior to their co-founding of Aecor Capital Management. Throughout his career, Bennett has focused on equity derivatives, cross-border arbitrage, index arbitrage strategies, as well as event-driven, special situations such as spin-offs and SPACs. Bennett holds an MBA in finance from Columbia University and a BA in economics from Vassar College.
A Florida native, Noorani brings more than 15 years of experience in investment management to Merus, most recently at Aecor Capital Management, the firm he co-founded with Bennett in 2017. Prior to that, he was a Partner at FNY Capital Management where he was responsible for the management of the firm’s global equity trading desk, building a team that successfully employed event-driven, index arbitrage and ADR trading strategies, while managing all risk and personnel. He will look to build out a similar operation in Miami for Merus, and contribute to the firm’s growing SPAC expertise. Noorani began his career with Merrill Lynch after graduating from Emory University in 2005.
Monte says: “We’re thrilled to bring both Brook and Faraz on board and are particularly excited about Faraz taking the helm of our newly created Miami Beach trading operation. The rapid emergence of Miami as one of the country’s thriving financial communities fits perfectly with our growth strategy and complements our already established operation in Boca Raton. The quality of life and favourable business environment in the region creates endless opportunity for growth and success.”
“After considering all the options, our decision to join the Merus team ultimately became an easy one,” says Bennett and Noorani in a joint statement. “Merus is unique in that it is truly built by traders, for traders. The structure and environment created by Joe and his entire team fosters innovation, allows for great ideas to come to the fore, and leans into a philosophy of transparency unmatched by anyone else in the industry. The talent that environment has attracted is unrivalled, and we look forward to contributing greatly to the continued success of the firm.”