According to research firm IMAS, around 60 new financial services firms registered with the FSA in February. As ever, many were obscure operations and IFAs.
However, IMAS’s list reveals a handful of interesting new entrants – or existing entrants under new guises, which merit further investigation. If you’re looking for somewhere new to send your CV, we suggest:
What: A brokerage house advertising execution services, research, and, ‘quant advisory’ services.
Who: Mariana’s website says it has gathered a lot of, ‘staff from both sales and trading desks at investment banks and other trading institutions.’ The FSA website reveals that it employs 21 registered persons with backgrounds including Nomura, BarCap, Lehman and ICAP.
History: Mariana Capital Markets Limited has been in operation since 2010 but changed its status to become a limited liability partnership in April 2011. It’s just been re-licensed in its new guise.
What: An agency brokerage providing, ‘specialist European equities trading services to hedge funds, family offices, private equity firms, professional investors and sovereign wealth funds.’
Who: Set up by Raymond McCabe, former CEO at Williams Europe, an execution only house catering for hedge fund traders. Outset currently has three registered employees including a former JPMorgan equities trader who most recently worked for McCabe at Williams Trading.
History: Outset is a new firm, only licensed in February 2012.
3. Z Investment Partners
What: A new investment advisory firm set up by several seasoned structured financiers.
Who: Employees include Jonathan Zenios, the former head of markets at BarCap’s ‘Structured Capital Markets’ (tax structuring) business, plus Gerald Brawn, a former COO in structured finance at BarCap and James Powell, a trader who spent 9 years at Credit Suisse.
History: Z Investment Partners is also new. Founded late last year, it was authorized by the FSA in February.