Russia based broker dealer BCS Global Markets made an announcement recently stated that it has hired new head of sales for its Prime Brokerage division based in United Kingdom. As per details in the statement, Andrew Richards will take up the role of Director is their office based out of Ipswich in United Kingdom. In his new role as Director of Prime Brokerage Sales, Andrew is expected to work with high frequency traders and proprietary trading firms that primarily deal in arbitrage and hedge funds in UK, Europe and US markets. Andrew is also expected to sell the firm’s flagship prime service offerings such as Synthetic and Physical Prime Execution as part of his responsibility as director. The attractive part of the Russian broker’s prime execution platform is that it can even be used by smaller institutions such as hedge funds which have are considered as too small to work with by mainstream prime brokerages.
Based out of UK office, Andrew Richards will be reporting directly to Tim Bevan – current Chief Executive Officer of UK business unit of BCS Global Markets. Andrew is an industry veteran with nearly 15 years of experience serving in investment division of top tier multinational banking institutions. Prior to joining BCS Global Markets, Andrew served as Director of Global Securities Finance at ING which primarily focused on Synthetic Equity Origination. Prior to ING, Andrew served major part of his career at Bank of Merrill Lynch for twelve and half years. He started out as Team Leader for their prime brokerage division and rose to rank of Account manager and eventually climbed all the way up to Vice President of Account Management at the banking firm’s prime brokerage business division by the time he resigned from the firm. He started his career as ETD Account Manager for UBS Investment Bank in their London office where he served for nearly 3 years.
According to his LinkedIn profile, Andrew Richard’s tenure at the firm began in the month of July 2019. BCS Global Markets is the prime brokerage division of Russia headquartered BCS financial group – a key broker on the Moscow Exchange. The firm said in its announcement that the new appointment is a part of wider context of strategic restructuring plans aimed at strengthening the firm’s development and expansion plans focused on Europe and North American market regions. Commenting on Andrew’s appointment, Tim Bevan stated, “We are delighted to welcome Andrew in our team in London. We believe he will make a significant contribution to BCS Global Markets. His breadth of experience in selling international prime services and developing client relationships to the hedge fund community will be instrumental in our global expansion”.