Prime-of-Prime institutional broker iS Prime, part of iSAM Securities, has submitted its 2022 financial results (fiscal year-end of June 30, 2022), indicating Revenues of £35 million and pre-tax profits of £16.2 million.

Last year’s accounts for the London-headquartered, FCA regulated firm reported on a 15 month period, in which iS Prime brought in Revenues of £37.9 million, so some quick math shows that Revenues grew about 15% year-over-year. iS Prime’s 2021 pre-tax profit was £10 million (again over a 15-month period), so profitability increased nicely as well in 2022. The company said that its balance sheet remains strong, with cash balances of just under £37 million (2021: £21.7 million).

iS Prime underwent a number of changes following year-end, including a major rebranding as part of iSAM’s overall rebranding, and – more importantly – the departure of the two founders of iS Prime, Raj Sitlani and Jonathan Brewer from the business.

Alex Lowe, Managing Director, iSAM said,

“iS Prime’s financials reveal another very successful year, with our revenue increase resulting from a combination of higher volumes and client acquisition. We continue to invest in our people and products in order to maintain our position as a global market leader, with a focus on transparency, integrity and a client-centric approach. We have plans in place to evolve the business over the next year, driving further growth for both iS Prime and for our clients.”

iS Prime Limited, part of iSAM Securities, is regulated by the FCA and offers full service brokerage and execution via its cutting edge proprietary technology. iS Prime Limited provides aggregated pricing sourced primarily from Tier One institutions, settled through the group’s bank Prime Brokers. iSAM Securities also includes iS Prime Hong Kong Limited (regulated by the SFC) and risk management specialist, iS Risk.