Cantor Fitzgerald hired Noel Kimmel as a new senior managing director, spearheading the firm’s new prime brokerage business.

According to CEO Shawn Matthews, the new business has come out of customer demand for a prime services business, focusing on the mid-market which they believe has been underserved by large banks.

Kimmel, as managing director, will focus on creating equity and fixed-income prime brokerage, which will combine with the financial foundation established by Cantor’s history in the market.

Prior to joining Cantor, Kimmel was North American head of sales and marketing for the fixed income prime brokerage division at JPMorgan. Before that, he was a senior managing director at Bear Stearns, which he joined after serving in management roles at SAC Capital Advisors, Bankers Trust, and Fuji Securities.

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