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Screenshot of a breaking news alert e-mail from Q2 2017
Bloomberg is reporting that International Standard Asset Management Ltd., a London-based hedge-fund firm run by Stanley Fink, is starting a Forex brokerage to target institutional investors. The service, “IS Prime”, will provide prime brokerage, traditional and non-traditional liquidity and risk-management solutions, ISAM said in an e-mailed statement.
The 57-year-old Fink, joined ISAM in 2008 after stepping down as chief executive officer a year earlier from Man Group Plc, the world’s biggest publicly traded hedge-fund manager, which oversees $72 billion. The firm’s main fund, ISAM Systematic, is up “close to 30 percent” this year and another fund, ISAM Quantitative Strategies, has returned 20 percent, Fink said in the statement.
Jonathan Brewer and Raj Sitlani will join the firm as managing partners from Sucden Financial Ltd., where Brewer was the head of electronic currency trading sales and Sitlani ran global institutional sales.
“What will differentiate IS Prime is our ability to utilize the technology and risk-management expertise of ISAM, as well as having access to Stanley’s significant experience in brokerage,” Brewer said in a statement.
Source: Bloomberg News