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Toronto Prime Brokerage Firm Adds to Service Group

Date: Wednesday, October 19, 2005
Author: By Susan L. Barreto, Senior Financial Correspondent Hedgeworld.com

Kripa Kapadia has left Goldman Sachs' prime brokerage office in London to join a Canadian prime brokerage firm that is rapidly gaining hedge fund clients.

Scotia Capital has taken on new client relationships in 2005 and is hoping to do the same in 2006, said Colin Bugler, managing director and head of equity finance at Scotia. The firm continues to add to its staff in order to maintain its targets for service quality, Mr. Bugler said.

Ms. Kapadia's hire brings the Toronto client-service team to three, while two additional individuals work in London. All report to Malcolm Park, who is head of client service.

"Her experience in London is aligned with our goal to be the most internationally focused Canadian prime broker," Mr. Bugler said in a statement. Scotia held its first capital introduction event in London last month, with more than 100 investors in attendance.

In August, Robert Pitt joined Scotia's London office to focus on the firm's capital introduction business. He had been in a senior client-service role at Lehman Brothers previously.