UBS’s Joseph Young has joined Conifer Securities as senior director of relationship management in a bid to grow their fledgling prime brokerage business.
Young spent 18 years at UBS, most recently as managing director of prime brokerage. At Conifer, Young will be responsible for maintaining existing client relationships and sourcing new clients for prime brokerage and other services, including fund administration, multi-prime solutions and trade execution.
Conifer has been making waves in the prime brokerage business in 2009. In April it hired Morgan Stanleys Jon Karis as director of prime brokerage and Citigroups Sal Campo as partner and head of sales.
Conifer also acquired Morgan Stanleys outsourced trading business in a drive to boost its presence in independent trade execution of equities, options, ETFs and related products for its hedge fund clients.
Regarding Youngs move, Jack McDonald, Conifer CEO, said: Conifer has continued to thrive and expand as more and more fund managers come to view multi-prime reporting and independent fund administration as crucial components of a successful hedge fund in the post-credit crisis era. Joe’s 18-year track record managing client relationships with some of the industry’s top hedge funds will ensure that Conifer’s growing client base continues to receive exceptional service from seasoned executives who understand their unique business needs.