Prime Brokerage Business

Prime Brokerage Business Update

Here are a few deatils from a recent report from Finalternatives on the prime brokerage business. This report mentioned that prime brokerage firms expect $11 billion in hedge fund revenues this year, consequently major prime brokerage firms are vigorously competing for clients. JPMorgan and CitiGroup are playing catch-up with industry giants by bolstering their prime brokerage units. Meanwhile, the more established Deutsche Bank, Morgan Stanley, Merrill Lynch and Goldman Sachs are battling for dominance over the prime brokerage industry.

The two biggest prime brokers, Goldman Sachs and Morgan Stanley, are building their reputation as the best in the industry. More and more hedge funds turn to the two firms because they have a strong reputation, as well as superior technology and support capabilities. While other major firms try to catch up by buying up talent from rivals, Morgan Stanley and Goldman Sachs are securing their dominant positions in prime brokerage.

- Richard

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