Malcolm Pratt, Head of Hedge Fund sales Trading in Europe at Bank of America has resigned to take up a new role at Clear Street, a fast-growing independent prime broker which launched operations in the UK in December, according to a report by eFinancial Careers.
Pratt, who joined Bank of America from Goldman Sachs in 2017, was a key figure in the firm’s hedge fund sales efforts. According to the report, he is expected to help establish the execution business at Clear Street, though this has not been officially confirmed.
Pratt is not the only senior hire at Clear Street, which has a valuation of $2bn following a funding round two years ago. Matthew Cyzer, former Co-Head of European Equity Execution Services at Goldman Sachs, joined earlier this month as Global Head of Markets for Europe. Given their overlapping tenure at Goldman, Pratt is likely to work on Cyzer’s team, with further hires expected as Clear Street expands its footprint in Europe.
