Wells Fargo Prime Appoints New Head of Securities Lending

Wells Fargo Securities has appointed Robert Sackett to head securities lending, as the bank continues to bolster its Prime Services unit.

As well as leading securities lending, he will also help support the prime brokerage and equity trading businesses. Based in New York, he will report to Eamon McCooey, head of Prime Services.

“With over 20 years of experience in prime brokerage and equity finance, Rob brings strong leadership and depth of expertise that complements and enhances the breadth of our prime services platform,” says McCooey.

Sackett joins from TradeStation Securities, an online brokerage firm, where he was head of Prime Services and Securities Lending. Prior to that, he was head of U.S. Equity Finance Specials Trading at Citigroup.

The hiring of Sackett is one of a dozen appointments Wells Fargo has made to its prime services and capital introductions teams this year, as it looks to break the hold of the bulge bracket players in the prime brokerage market.