US finance firm chooses Scotland for its second European base



BTIGUS-based financial services firm BTIG has announced that it is to open its second European office in Edinburgh.

The company, which specialises in institutional trading, investment banking and research, cited a concentration of expertise in areas such as fund management and asset servicing within the Scottish capital as the rationale behind the choice.

Chief executive Gary Heyes, said Edinburgh was the ideal location for growth in the region, as Scotland had increasingly become a global hub for banking, fund management, insurance, life assurance and pensions and professional services.

He added that an Edinburgh office was a natural extension to BTIG’s existing presence in London, which was established in 2008.

The new office, which is due to open later this month, will be managed by former director of institutional equities at JP Morgan, Stephen Harley.

“Building upon our strong UK client base, the Edinburgh office will offer the ability to develop stronger relationships in the region,” Mr Heyes said.

“With this debut in Scotland, we look forward to working with clients to provide premier solutions.” The Edinburgh office will be managed by Stephen Harley, BTIG’s managing director of institutional equities, who previously held a similar role at JP Morgan.

Matt Cyzer, the group’s president and head of European equities, said the trader-founded firm had seen strong and consistent growth since its inception, building on sophisticated global capability.

He said: “Expanding our global footprint by leveraging local expertise in new territories worldwide allows us to offer products and services to a larger global audience.”

The firm is expected to open in the capital next week and announce hires in due course.

BTIG deals in global trading and fund services for hedge funds, mutual funds, separate accounts and family offices, and covers institutional trading, investment banking, research and related brokerage services.

It serves institutional and corporate clients from a total 14 locations throughout North America , Europe and Asia-Pacific and currently employs 500 staff across 13 cities globally.