Kevin Neville and Alec Nelson have been appointed joint heads of Rule Financials expanded prime services and securities finance business.
In 2009 the prime services and securities finance practice had four members in an advisory capacity and up to 30 technical delivery experts. According to a company spokesperson, the past year has seen the firm grow the advisory team to 12, and the technical delivery team to 50.
Chris Potts, CEO, said Whilst an effect of the downturn was for clients to downsize and consolidate, we are now witnessing many banks having weathered the storm, being extremely well-positioned to expand their business. Securities Finance and Prime Services are two areas where we are seeing exceptional growth; however, the banks are often hampered by outdated IT systems. We are ideally placed to assist them with strategic guidance, ensuring that they are not constrained in responding to the market opportunity by their legacy infrastructure.
Neville began career as a prop derivatives trader, eventually running the equity derivatives desk for NatWest Markets. He has worked at Man Group, HSBC and the London Stock Exchange.
Before joining Rule Financial, Nelson worked at Morgan Stanley for nearly 20 years, where he was responsible for the international securities lending, prime brokerage and treasury systems.