ICYMI: Summer news round-up
The summer of 2019 featured major organisational changes at some of the top securities services providers. From prime brokerage to custody, here are the top stories from this summer.
Tag: prime brokerage
Prime brokers falling short on cap intro services for hedge funds
Capital introduction teams have downsized significantly over the years as banks look to shift resources to more revenue-driving services.
Custody
Industry Leaders Awards Shortlist for 2019 announced
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.
Lessons from hedge fund industry’s performances forcing prime brokers to re-evaluate risk
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.
Securities lending lawsuit against Wall Street banks dropped
The lawsuit accused the six banks and their prime brokerage divisions had colluding to ‘boycott’ an electronic securities lending trading platform.
Citi’s co-head of Americas prime finance departs
The c0-head of Citi’s Americas prime finance business has left after two years with the US bank.
Barclays confirms $20 billion gains from Deutsche Bank prime balances
The British bank has firmly established itself in the middle ranks of the industry prime brokerage league table.
Cantor Fitgerald hires Deutsche Bank exec to run European PB operations
The New York-based firm is aiming to become the partner of choice for hedge funds that are diversifying their prime brokers.
BNP Paribas says Deutsche Bank prime brokerage transition will be finalised by summer 2020
Deutsche Bank hopes the transition will close by end of this year, but BNP Paribas has said it will likely be completed in its entirety by summer next year.
Citi responds to industry pressures by combining equities, prime and securities services business
The new division is the latest in a string of restructuring moves in recent months as Citi looks to streamline its businesses.