Prime brokerage is ‘the centre of the machine’, according to Morgan Stanley’s CFO, as revenues rise in the third quarter.
The two firms agreed on a deal in principle in July as part of the German bank’s major restructuring and a complete withdrawal from equities trading.
JP Morgan has increased prime brokerage balances by 25% over the year, following near-record levels set across the cash and synthetic businesses.
Standard Chartered hopes the move will boost acceptance of Chinese debt as collateral for its foreign investor clients.
Capital introduction teams have downsized significantly over the years as banks look to shift resources to more revenue-driving services.
New York event will see Prime Brokerage, Hedge Fund and Private Equity Fund Administration and Editors' choice awards handed out, along with individual and innovation honours.
Prime brokers are now stepping up their due diligence of hedge funds, becoming more forensic when looking to bring a hedge fund onto their balance sheet.
The lawsuit accused the six banks and their prime brokerage divisions had colluding to ‘boycott’ an electronic securities lending trading platform.
The c0-head of Citi’s Americas prime finance business has left after two years with the US bank.
The British bank has firmly established itself in the middle ranks of the industry prime brokerage league table.