Raj Sitlani and Jonathan Brewer, the Co-Founders of iS Prime, an institutional provider of multi-asset brokerage and execution services, have decided to say goodbye to the business after eight years.
The decision comes two weeks after ISAM Capital Markets rebranded to iSAM Securities to position itself as a high-level institutional brand. The Co-Founders started iSPrime in 2014 in partnership with iSAM, a systematic hedge fund manager.
Until their exit, Sitlani was the Managing Director of iSAM Securities while Brewer was the Commercial Director. In a statement shared with Finance Magnates, the Co-Founder noted that they had achieved their goal of establishing a leading company.
Sitlani and Brewer Ready to Focus on 'Next Chapters of Their Lives'
“Both Raj and I are ready to focus on the next chapters in our lives. The time is right for the very talented team at iSAM to take the business forward, and we wish them all every success,” Brewer said in the statement.
Speaking on their decision to leave, Roy Sher, iSAM’s Managing Director praised the Founder for their contribution to growing the business and team which now boasts over 50 employees. However, Sher added that: “It is business as usual.”
“We will be increasing our investment in our technology and staff, putting our clients first as we drive the business forwards to maintain our market leadership position,” Sher explained.
Watch the recent FMLS22 session on liquidity between retail and institutional trading.
iSAM Securities Rebranding
iS Prime, which was previously branded as IS Prime, now operates under the rebranded iSAM Securities. The institutional brokerage is supervised by the UK Financial Conduct Authority.
Other entities under iSAM Securities include iS Prime Hong Kong, which is regulated by the Hong Kong Securities and Futures Commission, iS Prime Markets, which is supervised by the Cayman Islands Monetary Authority, and risk management specialist iS Risk, which is regulated by the United States Commodity Futures Trading Commission.
Meanwhile, iS Prime in recent months has hired some executives to strengthen its business. In November, the brokerage appointed Sandeep Nanuwan from NatWest to “focus on [its] institutional sales to banks, hedge funds and asset managers.” On top of that, it named Ben Robinson as its first Head of Marketing in May last year.
