The Fimat brokerage group – part of Socit Gnrale – announced today that it had set up a new Financial Services Group (FSG)in new York. The plan is to increase the Group’s presence in alternative investments. A team led by Stephan Solomon and Marc Cohen will now offer hedge fund managers, commodity trading advisors (CTAs), and other hedge fund market groups a full suite of services related to both exchange-traded and OTC derivatives products, with special focus on fixed-income and foreign exchange markets.
The Fimat Group already provides the alternative investment market with global trade execution, clearing and settlement services. FSG will leverage the various capabilities of the broader Socit Gnrale Group, including high-end structured products such as equity-linked derivatives, structured notes, and other customized institutional derivative products.
Stephan Solomon will be Senior Managing Director of FSG and Marc Cohen Managing Directo. They join Fimat from Prudential Securities. Solomon is a pioneer of capital introductions and has relationships with some of the world’s largest hedge fund managers and investors. In addition to the group’s focus on fixed-income and foreign exchange prime brokerage, FSG will also operate an energy-trading desk, headed by Ron Caples, Managing Director of Energy Trading – FSG.
“Together, Steve Solomon and Marc Cohen have more than a quarter century’s worth of experience in the alternative investment arena and have fostered relationships with many of the hedge fund industry’s foremost players,” says Patrice Blanc Chairman & President, Fimat USA Inc.
Fimat Group CEO & Chairman, Marc Breillout, added: “Ultimately, FSG will reinforce Fimat’s offerings to hedge fund managers and CTAs; allowing them to take greater advantage of Fimat’s global reach, world-class expertise and complete line of both traditional and structured derivatives products. In the US, FSG will provide the alternative investment community with a one-stop shop for all of their investment needs from research and analysis, to execution and settlement.”
“We are excited about joining Fimat, which is not only one of the leaders in the futures industry, but also has the backing of one of the world’s largest banks – Socit Gnrale,” says Solomon. “We look forward to the opportunity to strengthen the depth of our client business and offer alternative investment managers innovative derivatives products, complete with a full range of futures brokerage services.”
The group is comprised of Solomon, Cohen, Caples, an additional seven traders and three administration and operations people. The entire team will be based in New York at Fimat USA’s headquarters at 630 Fifth Avenue, Suite 500 at Rockefeller Center.