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Barclays Beefs Up Hedge Fund Services

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NEW YORK (–Barclays Capital expanded the duties of two of its officials within its collateralized finance group, broadening the services available to prime brokerage clients.

Kevin Mirabile, managing director, will be responsible for the global expansion and marketing of the firm’s products and services to the leveraged capital investor community, which includes hedge funds, bank proprietary trading operations and leveraged funds sponsored by money managers. Essentially, he will offer Barclay’s hedge fund clients the firm’s entire product line and not just prime brokerage services.

The collateralized fund group umbrella encompasses prime brokerage, equity borrowing and hedging, futures, U.S. dollar repurchase agreements and corporate credit repurchase agreements. According to a news release, Barclays boasts 40 of the largest hedge funds as clients.

Maurits Schouten, who also is a managing director, will become co-head of Barclay’s collateralized finance business, working with Mr. Mirabile, who has led that effort for a number of years after joining Barclays with Mark D’Andrea in 1998. Mr. D’Andrea left his post as managing director and global head of prime brokerage at Barclays in March .

Based in London, Mr. Schouten will also continue as head of equity-linked products.

“These appointments position us well to service one of the fastest growing pool of assets in financial services that is controlled by leveraged capital investors,” said Thomas L. Kalaris, chief executive in the Americas for Barclays, in a statement. “With growth in excess of 20% per year, this is an important customer base for us.”

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