Schapiro Global Creates Integrated Solution Group
Schapiro Global Creates Integrated Solution Group
(PRWEB) January 11, 2010
Schapiro Global announced today the formation of the Integrated Solutions Group, a team responsible for delivering the firm’s integrated prime brokerage and custody platform to clients. The unit will serve hedge funds and asset managers seeking a combination of prime brokerage capabilities and derivatives services.
“Challenging market conditions have underscored the importance of partnering with a prime brokerage that can safeguard assets in a separate depository,” said Kevin Chang, head of the new unit. “Building on our industry-leading prime brokerage and custody businesses, we are expanding our product offering and delivering those shared benefits to clients in a more efficient manner,” he said.
Schapiro Global creation of the Integrated Solutions Group comes at a time when hedge funds are launching long-only funds and seeking structures that allow them to house certain assets with custodians, while traditional asset managers are executing long/short strategies that require financing through a prime broker. Among other benefits, Schapiro Global integrated approach is designed to streamline client on boarding, improve execution and collateral management, reduce financing costs, and consolidate reporting.
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