Fidelity Prime Brokerage
Fidelity Prime Brokerage | Services
Resources regarding Fidelity prime brokerage:Resource #1: Fidelity Capital Markets named Thomas Tesauro as EVP of its Prime Services Business in a move to grow its prime brokerage business given that many hedge funds are shifting away from traditional firms. Tesauro will be responsible for developing and implementing the strategic business plan, as well as managing the day-to-day operations for Fidelity's prime-brokerage business.
Tesauro brings more than 25 years of experience in the prime brokerage and equity finance markets that includes former leadership roles at Citigroup and Goldman Sachs. He will report to Mark Haggerty, president of Fidelity Capital Markets, the institutional trading division of Fidelity Investments. James Coughlin, SVP and head of prime sales, and Stephen Richard, SVP and head of prime account and product management, will report to Tesauro. source
Resource #2: Fidelity Investments is building out its prime brokerage. The Boston company, well-known as a mutual fund powerhouse, told the Financial Times, it is expecting to add 50 hedge funds to its client base over the next month. It currently is a prime broker to 300 hedge funds.
Fidelity said half its clients have $1 billion or more. The company has been broadening its business model. It launched a prime brokerage in 2003. Source
