Ex-Goldman Prime Brokerage Managing Director Joins S3

Jose Fernandez, a managing director at Goldman Sachs Group Inc.’s prime brokerage, joined S3 Partners LLC, a provider of services to financial firms, as head of business development.

Fernandez, 47, left Goldman Sachs in April, where he had worked for 26 years and was responsible for co-managing the prime-brokerage client services team in the U.S., New York-based S3 Partners said today in a statement.

S3 Partners provides services and advice on counterparty risk and financing costs to financial institutions, including asset managers, banks, pension plans, insurance companies and hedge funds. Fernandez will focus on getting new clients and serving existing ones, Bob Sloan, managing partner of S3, said yesterday in a telephone interview. Fernandez, managing director and global head of business development and client service, will report to Sloan in New York.

S3, which Sloan founded 10 years ago, advises clients with more than $140 billion in assets, he said. Investment banks and securities firms provide a range of prime-brokerage services to hedge funds, including securities lending, leveraged financing and introductions to investors.

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