Futures broker RJ O’Brien (RJO) has hired Simon Prangnell to run its new Paris arm four years after he was hired to run the French branch at Coex.
Prangnell joined RJ O’Brien France this month to run the new entity as a managing director.
He joins from rivals Coex Partners, where he was hired to help get the French branch up and running back in 2015, and has served as a managing partner since then.
Prior to Coex he was a managing director, head of Continental Europe and the Middle East for Newedge - the joint brokerage venture between Credit Agricole and Societe Generale - for three years.
He also worked at Man Financial Paris, which became MF Global Paris, from 2002 as head of a trading desk and took on responsibility for financial futures and options operations between 2007 and 2011.
RJO also tapped Martin Marchant, who worked closely with Prangnell at Coex, as a senior vice president in Paris earlier this month. Jérôme Jourquin joined from GFI Securities in March as a senior vice president, becoming RJO's first institutional broker in France.
Back in November last year a spokesperson for RJO told FOW the Paris office came about as part of the strategy to continue looking for expansion opportunities throughout the globe.
RJ O’Brien France is the firm’s first foothold in mainland Europe and adds to its ever growing list of offices around the world including London, Chicago, New York, Beijing, Hong Kong, Toronto, and Dubai as of last year.
Speaking on the sidelines of the FIA conference in Boca Raton, Florida, RJO chairman and chief exec Gerry Corcoran told FOW he is looking to further increase the firm’s presence in Asia with a Singapore-based office.
Coex Partners, the brokerage firm set up by senior managers from Newedge and linked to ED&F Man, was bought by TP Icap in November 2017 and is considered a “big growth area” for the former rivals.