Prime brokerage launched by NY boutique investment bank

Lighthouse Financial Group, the New York based boutique investment bank, has launched a prime brokerage service.

Lighthouse Prime Services will be led by co-heads Jamie Caputo and Brian Stutman. They were key players in the roll out of RBC Prime Services in the US.

The prime services unit will offer execution and trading services for hedge funds and high-frequency trading as well as research and capital introduction.

Electronic execution and clearing services will be provided through Goldman Sachs execution and clearing and pension financial.

The move follows the recent launch of Lighthouse Financial's institutional sales and trading business, headed by former Bear Stearns veteran Ron Weinstein.

"Whereas the major prime brokers are cutting back on services, we are pleased to launch a comprehensive service offering to our hedge fund clients -- including cap-intro -- that is now more important then ever," said Caputo.

He said the bank understood the needs of small and mid-sized hedge funds.