Conifer hires former UBS prime brokerage head

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Conifer Securities, which provides a variety of outsourced services to hedge funds and other investment managers, this week hired Dick Del Bello, former head of UBS prime brokerage for the Americas.

Del Bello joined long-time pals Jack McDonald, Conifer’s chief executive, and Phil Stapleton, the firm’s founder and chairman, on Monday to sniff out new business opportunities for the firm, such as in capital introductions.

Conifer does not typically compete with prime brokers, having little cross-over between services offered, said Del Bello. “Hedge funds need prime brokers for borrowing securities and they need us for back office and