Brian Grover, executive v.p. in equity derivatives sales at KBC Financial Products in New York, has quit the firm to launch an executive search and capital raising startup. Titled the Broadreach Group, the firm has been forged to offer a range of services to hedge funds and other derivatives-based organizations, said Grover.
In addition to offering recruitment services the firm will work with nascent hedge funds for capital raising, he said. It will run both businesses through partnerships. It has teamed up with the Gogates Group for headhunting, but Grover declined to name the partner for the capital raising part of the business. Paul Sassa, former v.p. in global portfolio management at Deutsche Bank Private Banking, is working alongside Grover as a director in the new venture.
Lisa Greenblott, spokeswoman at KBC in New York, did not return calls.
