Tue, Jun 27, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Global Prime Partners selects BNY Mellon for global clearing and custody services

Thursday, November 07, 2013
Opalesque Industry Update - Global Prime Partners ("GPP"), the global prime brokerage boutique which specialises in supporting emerging managers, today announced that it has entered into an agreement with BNY Mellon, the global leader in investment management and investment services, whereby BNY Mellon’s Broker-Dealer services business will provide clearing and custody services to GPP's expanding group of high quality emerging investment manager clients.

BNY Mellon will initially begin providing its services to GPP's clients that have settlements in Euroclear with the intention of gradually rolling out this counterparty arrangement into all geographic regions in which GPP's provides prime brokerage support to its clients.

Commenting on the announcement today, Kevin LoPrimo, Head of Global Hedge Fund Services at Global Prime Partners, noted: "This arrangement has been a long time in the making and we are delighted to be moving forward with BNY Mellon. BNY Mellon is one of the most respected global financial institutions with an international reach and strong track record of clearing and custody.

“Working with BNY Mellon will further strengthen the quality and reliability of service support that we provide to our own clients. We have a clear vision to be the pre-eminent prime broker of choice for smaller managers and this is but the latest step in our solid and steady build of GPP's business."

Brian Ruane, CEO, Broker-Dealer Services at BNY Mellon, added: “Through our comprehensive suite of securities clearing and custody services and the deep pool of expertise we can draw on globally, we can support GPP as it continues to expand and enhance the support it offers to its growing client base.”Press release

bc

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Legal - Bond market concerns could scuttle Paulson's Fannie-Freddie plan[more]

    From Bloomberg.com: A hedge fund proposal for freeing Fannie Mae and Freddie Mac from U.S. control is poised to face stiff opposition from investors who say it risks wrecking the mortgage-bond market. The Moelis & Co. blueprint, which firms including Paulson & Co. and Blackstone Group LP sponsored,

  2. Other Voices: Are your pricing policies and procedures for less liquid instruments adequate?[more]

    Komfie Manalo, Opalesque Asia: The unrelated position mismarking incidents that quickly precipitated the closures of both Visium Asset Management and Marinus Capital have been recent focal points for market participants, but regulatory scrutiny of valuation choices for less liquid instruments is

  3. FinTech - AI hedge fund Numerai now live on Ethereum, Cryptocurrency hedge funds generate huge returns as bitcoin surges[more]

    AI hedge fund Numerai now live on Ethereum From Cryptoninjas.net: Back in February, Numerai announced numeraire (NMR), a cryptographic token to incentivize a new kind of hedge fund built by a network of data scientists. Earlier today, the Numeraire smart contract was officially deployed

  4. Investing - Advisors slash hedge fund positions, Theravance Biopharma is a top pick of investment guru Seth Klarman, As asset management industry grows a search for new revenue streams[more]

    Advisors slash hedge fund positions From Barrons.com: Financial advisors have cut wealthy clients' exposure to hedge funds by up to one third over the past 12 months, The Financial Times reports. Advisor firms in the FT's annual top-300 ranking have reduced their hedge fund allocation to

  5. Investing - U.S. hedge fund in anonymous bet against Tesco shares, Hedge funds made repeated attempts to invest in Veneto banks, Steve Cohen's Point72 takes stake in struggling electronics retailer Conn's, Hedge fund Excalibur bets Riksbank will tighten by end of year[more]

    U.S. hedge fund in anonymous bet against Tesco shares From FT.com: A $20bn New York hedge fund is using an offshore shell company to anonymously bet against the shares of the UK supermarket Tesco, raising fresh questions over the efficacy of European short selling disclosure rules.