The Evolution of the prime brokerage model - Challenges & opportunities 2011

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Articles

Patric de Gentile-Williams, COO of FRM Capital Advisors.

Fresh challenges for prime brokers in era of low leverage

By James Williams - For the prime brokers on whom hedge fund managers rely so much on, there’s not been a huge amount to shout about in 2011. Trading volumes are down and leverage is stuck at modest levels of 2.1x to 2.4x (compared to 4x leverage prior to 2008), despite record-low financing costs. It’s fair to say that 2011 hasn’t exactly been a halcyon year for prime brokers. »


Chris Barrow, global head of sales, HSBC Prime Services

Risk concerns target strong balance sheets

Interview with Chris Barrow - The tumultuous events of the eurozone debt crisis, which sent the markets into a tail spin this summer, have caused a lot of headaches for investment professionals. But for HSBC’s Prime Services offering, which launched around the time of Lehman’s imploding, this year’s volatility has actually been playing right into its hands. »


Glen Dailey, Jeffries

Increasing competition focuses attention on profit margins

By James Williams - Two of the more obvious trends that have occurred in prime brokerage post-Lehman’s are perhaps, unsurprisingly, intrinsically linked to counterparty risk. The first is the move away from mono-prime to multi-prime mandates. The second, more recent trend, is the growth in prime custody solutions, accelerated in part by the likes of HSBC and JP Morgan, both colossal global custodians, entering the prime brokerage arena. »


Mike Rosen, senior manageing director, Concept Capital Markets

Technology solution supports demand for managed accounts

Interview with Mike Rosen, senior managing director, Concept Capital Markets - The outsourcing of middle- and back-office services as well as increased demand for better technology in areas such as portfolio analytics, performance measurement and risk management are key trends that Concept Capital Markets is continuing to focus on. »


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