Cowen has hired a former prime services executive from Morgan Stanley, JP Morgan and Cantor Fitzgerald to boost its New York sales team.
With the integration of the Deutsche Bank business, BNP Paribas is aiming to become the top prime broker in Europe and potentially break out as a top four global player.
As digital asset firms look to reach institutional investors, the largest players have realised the need for prime brokerage services and appear to have all made their moves at once.
Equities and fixed income financing rose in the first quarter at Goldman Sachs, as hedge funds increase balances.
IG said it’s offering will give hedge fund managers and family offices access to the full spectrum of prime brokerage services.
As Prime Brokerage survey launches, increased flexibility takes account of conditions imposed by the coronavirus pandemic.
Global Custodian data analysed by Aite Group predicts prime brokerage revenues to soar in 2020, as banks face up to challenges in their service provision and business models.
The stalwart of Morgan Stanley's industry-leading prime brokerage business will retire after serving over 30 years with the US firm.
The mounting cost of regulation and capital requirements, coupled with the significant drop in new hedge fund launches, could pose an end to the mini-prime broker business.