British specialty brokerage United First Partners has opened a New York office.
The firm, which specializes in event-driven, relative value and special situations brokerage, has established its North American beachhead with five executives, including three traders.
Co-founder Michael Hadjedj has transferred from London to New York to run the branch. Hadjedj, who previously co-managed ICAP’s special situations and merger arbitrage division, established UFP in 2009 with partner Stephane Mardel.
Hadjedj is joined in New York by three traders. John Wheelhouse, one of UFP’s head traders in London, has moved to the New York branch. Adam Theriault, formerly a trader on the risk arbitrage desks at Bear Stearns and J.P. Morgan, is a new hire. Craig Johnson, another new hire, joins as a sales trader. Johnson began his career at Fidelity. He then worked with Hadjedj and Mardel at Tullett Prebon in London.
The firm plans additional hires, according to a company statement.
UFP counts more than 150 institutional clients across 25 countries. The agency brokerage was ranked first in a Thomson Reuters survey in pan-European special situations research and second in pan-European special situations brokerage. The firm says it will clear through Goldman Sachs Execution & Clearing.
