A prime brokerage firm serving clients such as family offices says it has appointed a chief operating officer at a time when the firm said it recognised growing demands for risk management in financial services.

Global Prime Partners, which provides prime brokerage and trading services to clients such as hedge funds and family offices, has appointed Andrew Bole as chief operating officer. He previously worked IG Group Holdings where he was chief risk officer and member of its senior management team.

He brings more than 15 years of management experience in the industry.

The role is a newly-created one, a spokesperson told this publication after it enquired about the matter.

“The board recognises the increasing emphasis on regulation and risk management across the financial sector.  Andrew will be instrumental in managing business processes and improvements across the firm, with clients benefitting from increased operational efficiencies and the continuing development of our market leading technology,” Julian Parker, chief executive at Global Prime Partners, said.

In early November last year, London-headquartered Global Prime Partners announced that it has entered into an agreement with BNY Mellon, whereby the latter firm's broker-dealer services business will provide clearing and custody services to GPP's group of emerging investment manager clients.