New York-based prime brokerage risk manager S3 Partners has appointed Thomas Tesauro as a managing director responsible for the firm's collateral management and financing desks.New York-based prime brokerage risk manager S3 Partners has appointed Thomas Tesauro as a managing director responsible for the firm's collateral management and financing desks.

Tesauro has been in the financial services industry for 24 years.

He began his career at Goldman Sachs in 1984 and in 1989 was promoted to head of their US securities lending business.

In 1994 he joined Smith Barney as managing director and was responsible for creating their equity finance business, which included the securities lending and prime brokerage businesses.

He was most recently co-head of Citi's global prime finance business which included prime brokerage, securities lending and Delta 1 swap activity. In this position he was responsible for more than 300 investment professionals located around the world.

Robert Sloan, managing partner of S3 Partners, says: "Tom is a great addition to our team and his integrity, experience, market contacts and knowledge will be of great benefit to our clients, both hedge fund managers and investors in the alternative space. I have known Tom for many years and he is a highly respected industry leader and one of only a handful of people who know all the intricacies of hedge fund financing and prime brokerage.

'The world is changing every day and it has never been more important than now to be cognizant of your counterparty relationships and the value and real exposures they bring to your business."