Deutsche Bank To Boost Asia Prime Brokerage

Mar 29 2010 | 11:32am ET

Not wanting to be left out of the expected boom in Asian hedge fund launches, Deutsche Bank has aggressively built up its prime brokerage team in the region and will continue to do so.

The bank said it has increased the number of its Asia prime finance staffers by about 20% over the past year-and-a-half, Bloomberg News reports. The firm will continue to add people in the region, which is expected to be home to a large number of hedge fund launches over the next several years.

Among the hires the firm has already made are Masa Yanagisawa, who was named director of the hedge fund capital group in Japan, and Harvey Twomey, head of the prime finance institutional group in Hong Kong. Both came to Deutsche Bank from Merrill Lynch.

“Within the global prime-finance world, Asia is a big focus,” Sean Capstick, Deutsche Bank’s head of capital introduction, told Bloomberg. “We’ve been very involved in the startup markets and that is something we absolutely plan to continue doing.”

Certainly, Deutsche Bank is not alone in beefing up its prime-brokerage presence in Asia. Citigroup plans to double the size of its institutional hedge fund advisory team in the region over the next two years. Credit Suisse is expected to buy Fortis Bank Nederland’s prime brokerage unit, which includes offices in Hong Kong, Singapore and Tokyo. That firm also plans to boost the size of its existing Asia prime brokerage by as much as 20%. Morgan Stanley in December hired a new head of Japanese prime brokerage as it works to increase its capability in the area.

“People are coming here looking for very good investment ideas and that now is translating directly through the startup market,” Capstick said. “We spend a very large amount of time meeting with people who are starting up hedge funds. Our role is to find which ones are going to flourish.”


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...

 

From the current issue of

Looking for a way to keep warm during the cold weather or rather alleviate your cold while under the weather?