BNP Paribas names new global head of prime services as it looks to finalise transition of Deutsche Bank’s prime brokerage and electronic equities clients.
Tag: prime brokerage
The two US banks have been relatively unscathed by the blow-up of hedge fund Archegos Capital in March, which resulted in losses of over $10 billion for Wall Street.
Former hedge fund executives joins Cowen's global capital introduction team, where it seeks to expand its coverage in Asia-Pacific and the US.
With the global pandemic radically changing the way hedge funds operate, combined with the high profile collapse of Archegos Capital, Mark Aldoroty of BNY Mellon's Pershing explains how prime brokers will have to stay on top.
The Swiss bank will undergo an extensive review of the business where it will focus on derisking and resizing its hedge fund servicing unit.
The incident further highlights the dangers of over-leveraging hedge funds and could force some prime brokers to recognise the excessive risk that can occur.
BNP Paribas’ expanded prime services business will launch after the integration of Deutsche Bank’s hedge fund clients is completed this year.
The resurgence in short selling and increased performance among hedge funds could pave the way for a profitable year for securities lending desks of banks.
UK-headquartered depositary appoints Morgan Stanley executive to lead customer services and operations.