SAM, the alternative asset manager launched by Lord Stanley Fink in 2008, has launched IS Prime, a new foreign exchange brokerage service.
IS Prime will only target institutional investors – retail brokers, asset managers, regional banks, hedge funds and family offices – with a range of services including traditional and non-traditional liquidity, prime of prime brokerage and access to risk management solutions. The firm will provide uniquely flexible solutions which will be tailored to each individual client’s needs.
The business will be led by Jonathan Brewer and Raj Sitlani, Managing Partners, who have over 37 years’ combined brokerage experience and join from Sucden Financial. Brewer was most recently Head of eFX Sales, where he was responsible for the sales and management of the eFX business, overseeing global eFX strategy and client acquisition. Sitlani was previously Global Head of Institutional Sales and a member of the EXCO, and was responsible for the deployment of several multi-asset class electronic trading platforms. Both Jonathan and Raj were instrumental in the growth and success of Sucden Financial’s eFX business.
Fink, CEO, ISAM, says: “This year has seen great progress at ISAM, from a corporate and a performance perspective. Our flagship fund ISAM Systematic is up close to 30 per cent this year and our new fund, ISAM Quantitative Strategies has returned 20 per cent year to date.
“The launch of IS Prime, allows us to capitalise on the partnership template between a hedge fund and brokerage business, that I realised during my tenure at Man Group. The significant foreign exchange market experience Jonathan and Raj bring to the company, their reputation for client service and ISAM’s pedigree in systematic trading, technology and risk management is a compelling combination that will deliver a unique suite of services to our clients.”
Brewer says, “At IS Prime, we will provide competitively priced liquidity and prime of prime services that will rival the best in the industry. What will differentiate IS Prime is our ability to utilise the technology and risk management expertise of ISAM, as well as having access to Stanley’s significant experience in brokerage. This will ensure we are able to deliver a truly ground-breaking, solution-driven and transparent approach that both Raj and I believe our clients require. We look forward to establishing IS Prime as a world-class brokerage firm.”