11/08/2010 Author: Elana Margulies

Fidelity Prime to build out cap intro team 

Fidelity Prime Services, a top-tier prime broker, is expected to build out a capital introductions team for the first time and has hired industry veteran Stuart Feldman of Jefferies & Co to make a foray into the space, HFMWeek has learned.

According to a source familiar with the firm's plans, Feldman will head Fidelity Prime Services' new division. He has been at Jefferies & Co over two years and previously held positions as COO at Pomeroy Capital and Sands Point Capital Management.

Fidelity Prime Services has more than 100 hedge fund clients, with an average AuM of $1bn. In 2009, it opened new prime brokerage relationships with 15 $1bn accounts.

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