Prime Brokerage Firm Closes Down
Lower trading volumes have hurt many prime brokers. It has a led to a loss in talent to competitors and lower overall profits for 2008 and 2009. Below is a story about an Asian based prime brokerage firm shutting down. The article does not mention it but I believe part of this was the result of having a few of their relationship development managers cherry picked by larger prime brokerage firms:
The contraction of the Asian hedge fund industry is being felt by the region’s service providers. Prime broker Pali Holdings is closing its only office in Asia as its customers have cut back on their trading. source
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Tags: Asian Prime Brokerage, Prime Brokerage Closing Down, Prime Brokerage Firms shutting down, prime broker, prime brokers, prime brokerage, trading, hedge fund trading, prime brokerage Firm
