Deutsche Bank plans to double-down its efforts for its most profitable clients, expanding the hedge fund focus on its senior equities team.
Prime brokerage was one of the top revenue fallers for Deutsche Bank in 2017, due to its balance sheet-intensive nature and has over the years made major cuts with certain hedge fund clients.
Deutsche Bank’s plans will include a significant reduction in its headcount across the US and Asia.
Recent appointments to the business has signalled a boost in its global capabilities and providing a one-stop shop for hedge funds.
BNP Paribas recently announced a major reshuffle to its prime services & financing and global markets team.
BNP Paribas was among the top banks that recorded a boost in earnings for equities and prime brokerage during 2017.
Credit Suisse has moved its Prime Services business to Dublin employing 100 people across Prime Brokerage, Prime Financing and Securities Lending.
The bank is eyeing an aggressive growth strategy in the prime brokerage market.
Three quarters of fund managers are being forced to change the way they interact with their prime brokers in light of Basel III, a survey has shown.