Bringing you live news and features since 2013
Bringing you news, views and analysis since 2013
Sean Kelleher, Wall Street Access

25178

Wall Street Access acquires RJL Capital Group

RELATED TOPICS​

Wall Street Access Corp has acquired a majority interest in RJL Capital Group (RJL), a New York-based provider of prime brokerage and trading services. Terms of the private transaction have not been disclosed.

RJL provides a suite of integrated prime brokerage clearance, execution, and reporting services supported by proprietary technologies and an experienced support staff. RJL customers benefit by being introduced on a fully-disclosed basis to multiple prime broker custodians, allowing investment managers to diversify custodial risk while enjoying the operational ease of a single trading solution, service team and reporting system.
 
“We’re very excited to welcome the RJL team, as there has been a huge increase in demand for ‘mini-prime’ brokerage services over the past few years since the major prime brokers have focused on their larger clients and ceased servicing those who do not meet tightened criteria,” says Sean Kelleher (pictured), President of Wall Street Access. “With the addition of RJL, we are now extremely well positioned to deliver a solution to this under-serviced universe of customers who typically manage assets under USD100 million.”
 
RJL will continue to operate under its existing brand and will maintain its current clearing and technology relationships while serving more than 100 institutions, fund managers, family offices, and registered investment advisors across the United States.
 
“Wall Street Access has been an active owner and operator of financial services businesses since 1981,” says Ralph Lamberti, President and CEO of RJL. “Having the firm’s capital, expertise, reputation, and infrastructure behind us will enable RJL to more effectively focus on serving our existing clients, while vastly enhancing our operational infrastructure for future expansion.”
 
This investment marks the second platform extension for Wall Street Access in 2017, following a joint venture between Wall Street Access Asset Management and Nu Paradigm Investment Partners, an investment advisor, asset manager, and outsourced CIO firm. Combined, the businesses manage nearly USD300 million in assets.
 
“In a changing financial services landscape, many quality firms are looking for a well-capitalised and established partner,” says Kelleher “Wall Street Access takes an entrepreneurial view of these opportunities, and we will continue to add new lines of business and talented salespeople to support their growth.”
 

Latest News

Brown Brothers Harriman & Co has announced the launch of InfuseDX, described as a completely..
Coincover, a blockchain protection company, has joined forces with Utila, a crypto operations platform in..
Digital asset business Fineqia International has announced its strategic investment in Criptonite Asset Management SA,..

Related Articles

Cedric Bucher, Hearthstone
Cedric Bucher, CFA, CEO Hearthstone Investments, writes that with the increasing popularity of private market assets, the proportion of such investments held by institutional investors can now make up a significant part of the overall portfolio allocation...
Cedric Bucher, CFA, CEO Hearthstone Investments, writes that with the increasing popularity of private market assets, the proportion of such..
Leanne Clements, The People's Partnership
The short-term interests of asset managers may be trumping the long-term interests of their institutional investor clients when it comes to stewardship, which has lead UK pension funds to call for urgent action...
The short-term interests of asset managers may be trumping the long-term interests of their institutional investor clients when it comes..
Vegetables
Bucking the global trend away from impact startups, French business school EDHEC has partnered with private equity firm Ring Capital to drive capital towards entrepreneurial projects that drive social and environmental change. ..
Bucking the global trend away from impact startups, French business school EDHEC has partnered with private equity firm Ring Capital..
Global ESG Investing
ETF providers continue to overlook stewardship responsibilities with proxy voting “muddled and concentrated”, new research reveals...
ETF providers continue to overlook stewardship responsibilities with proxy voting “muddled and concentrated”, new research reveals...
Subscribe to the Institutional Asset Manager newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by