Concept Capital Markets, LLC Assumes Managed Account and Prime Services Business from I.A. Englander & Co.
Garden City, NY; New York, NY (PRWEB) March 31, 2014 -- I.A. Englander & Co. has agreed to transfer its managed account and prime services platform (MA&PS) to Concept Capital Markets, LLC. In reviewing the quality of service it seeks to provide to all of its clients, I.A. Englander concluded that its resources are best aligned with other parts of the marketplace and that transferring MA&PS to Concept Capital would in the best interest of its clients and employees. “Concept Capital has continued to demonstrate a commitment to the prime brokerage business through investments in personnel and technologies that combine to deliver a comprehensive set of solutions for investment managers and those that allocate to them. Our clients could potentially benefit from these solutions and our employees may be better able to extend their reach into the alternative investment manager space with the additional tools available to them,” commented Stephen Tobias, Chief Executive Officer of I.A. Englander & Co.
Joining Concept Capital will be Harry Freda, Nick Rizzi and Bob Chicoine in the Purchase, NY branch, and Matt Pringle, Georgia Goodman, and Bob Wibbelsman in the Santa Monica, CA branch. Additional personnel and account transfers between the firms may take place as well as details are finalized between the parties. “We are pleased to welcome our new colleagues to Concept Capital and excited for the opportunity to introduce our firm and its capabilities to them and their clients. With a diverse range of experiences and skill sets that include prime brokerage, launching hedge funds, portfolio management, research, sales and trading, clearance and settlement, financial operations, compliance, technology, and customer support, we believe the Concept team is uniquely equipped to understand and anticipate our clients’ needs and preferences and deliver on those,” said Jack Seibald, co-founder and Managing Member.
To most clients, the move to Concept Capital should be seamless as their accounts can remain in custody at the same clearing firm and they can continue to use the same trade execution systems they’ve grown accustomed to. Moreover, clients’ primary contacts on all matters related to their accounts will also remain the same. To the extent that it will be in certain clients’ best interests to transfer their accounts to another clearing firm, Concept Capital will effect such transfers in an expeditious manner that will prove least disruptive to such clients.
For additional information, please contact:
Jack Seibald - (516) 746-5718 - jseibald(at)conceptcapital(dot)com or Stephen Tobias - (212) 841-4229 - stobias(at)iaenglander(dot)com.
Jack Seibald, Concept Capital Markets, LLC, http://www.conceptcapital.com, +1 516-746-5718, [email protected]
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