Global Prime Partners, the fast growing boutique Prime Broker has announced record growth in its Fiscal Year 2015. Revenue growth was strong again, and profit before tax (PBT) rose 27%.This is a direct result of 100+ new account openings and the continued trend of the Bulge Bracket bank providers increasingly shunning the smaller Hedge Fund and Clearing clients.

Julian Parker, Global Prime Partners CEO commented, ‘We are delighted with another record year of growth. We started our business eight years ago and now have created a brand that is recognised as the only real alternative to the traditional bank providers in our core markets of Prime Brokerage, Custody and Clearing. After eight years we have built a reputation, financial soundness and network of counterparties that is unique and very difficult for anyone to replicate. Our growth is a testament to our clients’ recognition of these years of hard work.’

In response to this growth and the huge potential still to come, Global Prime Partners also announces the hiring of two new additions to its Prime Brokerage distribution team. Nick Hansford joins to head up a new Relationship Management function supporting the needs of existing large clients. Nick was most recently Vice President, Head of Equities On boarding at Bank of America Merrill Lynch. Also joining Prime Brokerage Sales is Lawrence Obertelli. Lawrence was most recently Vice President, Equity Finance and Synthetic Prime Brokerage at Societe Generale.

Commenting on the hires, Sean Capstick, Head of Prime Brokerage, said ‘The prime brokerage landscape is changing immeasurably. We believe we are uniquely positioned to work with an increasing number of Hedge Funds and Asset Managers who the traditional Bulge Bracket banks are no longer able to service. The hiring of a number of high quality individuals shows our ambition to fill this service void and give our clients the best coverage as they build their businesses.’