Regulatory load mounts for European managers
Late last week in London, the current state of hedge fund industry regulation was ably summarised by panellists at The IMS Group Regulatory Forum
13/01/2010
Lighthouse Prime reshuffles personnel
Lighthouse Prime Services, a division of Lighthouse Financial Group, has restructured its senior-level personnel after an aborted attempt by First New York Securities to poach its prime brokerage
team.
As part of the personnel shakeup, Steve Simmons has been promoted to head of prime services sales from head of capital introductions. Jamie Caputo has been promoted to a senior position within parent company Lighthouse Financial Group, but will remain intimately involved in the day-to-day operations of Prime Services. He was previously co-head of prime services. Brian Stutman, the other co-head of Prime Services, has been released.
According to an HFMWeek source, First New York Securities had attempted to start a prime brokerage division and hoped to bring the Lighthouse Prime Services team on board late last year. The deal never came to fruition after Stutman, who initially pushed for the deal, failed to gain support from his colleagues.
Sources suggest that Lighthouse Prime employees were skeptical of a proprietary trading shop supporting a prime brokerage business.
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Editor's view: 1 February 2012
It’s well known that our industry likes to be viewed as on-trend, an early adopter, and generally ahead of the curve
Comment: William Keunen
"The administration function will continue to expand its horizons to meet the demands of the increasingly complex environment"
The institutional outlook
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