BTIG Prime Brokerage: Best Boutique Prime Broker – In the last year, BTIG Prime Brokerage has experienced tremendous growth in the number of funds on its platform. “Whether established hedge fund, newly launched business or family office, managers are selecting BTIG as their prime broker for multiple reasons – better client service, customised solutions, a robust portfolio reporting system and seamless integration with our Outsource Trading and Electronic Trading offerings. Our high levels of client satisfaction lead to referrals not only from existing clients but also from other service providers – accountants, attorneys and even bulge brackets for small and mid-sized accounts that don’t meet their coverage criteria,” said Justin Press, Managing Director and Co-Head of BTIG Prime Brokerage.
Managers seeking to increase their assets under management are particularly drawn to BTIG, which has seen significant growth driven by two key trends. First, across the industry there has been an uptick in investor allocations to managers with strong performance and more established track records. BTIG Prime Brokerage has been at the forefront of this trend. “We have helped connect many of our clients with appropriate investors though our Capital Introduction team. Funds are taking note of our successful efforts and are either switching their prime brokerage business to BTIG or adding BTIG as a secondary prime broker. BTIG Capital Introduction has a reputation as a critical resource for small to mid-size funds,” notes Brian Petitt, Managing Director and Co-Head of BTIG Prime Brokerage.
Additionally, several managers are also returning outside capital to focus on managing their personal assets. According to Press, “This has created another avenue of growth for our Prime Brokerage Family Office Platform. BTIG has long-standing relationships with many of these managers who now want to continue to leverage all of the firm’s resources to support their new objectives and business ventures.”
The firm understands the complexity of efficiently launching and managing a fund and is proud of its ability to deliver the necessary portfolio reporting required to meet the evolving demands of the BTIG client base. “Our clients look to us to provide comprehensive technology and enhanced portfolio reporting. We are constantly adding new reports and custom features in response to specific requests from our clients. As an example, we have many clients who are managing tax efficient strategies and have therefore expanded our wash sale reporting capabilities. Additionally, we have enhanced our order management system (OMS) and real-time P&L, providing clients with an easy-to-use tool for sending, allocating and monitoring their trades. Our web-based OMS and integrated real-time P&L allow our clients to monitor their portfolio(s) tick by tick,” Petitt explains.
Covid-19 has also had a considerable impact on the industry in 2020. Fortunately, while BTIG Prime Brokerage navigated the pandemic without disruption to clients, the firm has had to dramatically adjust to a new way of life and a more permanent remote work environment. “Protecting and prioritising the health and safety of our clients and colleagues while continuing to offer the highest levels of service is of paramount importance to us. Digital transformation is at the forefront of everyone’s mind and the benefits of our high-touch model are increasingly valuable as the world around us continues to automate processes and procedures,” noted Press.
“The increase in efficiency often comes at the expense of connection and could lead to a breakdown in trust. Our client service team, backed by best-in-class technology, connects live with clients every day. This person to person interaction, customised to meet the individual needs of each client, builds confidence in our brand and is the heart of our offering,” said Petitt.
Justin Press
Managing Director, Co-Head of BTIG Prime Brokerage
Justin Press is also a member of the firm’s Global Operating Committee. Justin joined BTIG in 2005 via a predecessor firm Baypoint Trading. Prior to Baypoint Trading, he held Prime Brokerage Sales roles at UBS Prime Brokerage and its predecessor firms ING Barings and ABN Amro. Justin began his career in 1996 at Furman Selz Prime Brokerage. He earned a BS from Florida Atlantic University.
Brian Petitt
Managing Director, Co-Head of BTIG Prime Brokerage
Brian Petitt oversees both the day-to-day operations and business development efforts of BTIG’s Prime Brokerage division. Brian is also a member of the firm’s Global Operating Committee. He joined BTIG in 2005 via Baypoint Trading, a predecessor of BTIG. Prior to BTIG, Brian held several senior management roles at Banc of America Securities. He began his career in 1995 in the Prime Brokerage division of Montgomery Securities.
