The British bank has firmly established itself in the middle ranks of the industry prime brokerage league table.
Tag: prime brokerage
The New York-based firm is aiming to become the partner of choice for hedge funds that are diversifying their prime brokers.
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.
The new division is the latest in a string of restructuring moves in recent months as Citi looks to streamline its businesses.
Deutsche Bank's top brass signalled it has made progress in the potential transfer of their prime brokerage balances, electronic technology and staff to BNP Paribas.
BTIG will build out a specialised team to focus on the family office market, which has become a fast-growing segment within the alternative investment industry.
Fillmore Advisors will become part of the recently-established prime brokerage division at INTL FCStone, as it looks to expand on outsourced trading for hedge funds.
Deutsche Bank revealed its significant business transformation and restructuring plans, including a targeted reduction in adjusted costs of around €6 billion by 2022.