Wednesday, 1 October 2014
Last updated 57 min ago
May 18 2010 | 10:55am ET
Barclays Capital has “completed the hiring cycle” for its Asian prime brokerage business this year. But the firm plans further growth in a region expected to drive the expansion of the hedge fund industry in the near future.
The firm has boosted the size of its Asian prime brokerage by about 65%, Bloomberg News reports. While that meets its growth targets for 2010, Barclays plans further expansion n the region next year, according to Ryan Bacher, head of Asian prime services.
“Once we build scale in terms of onshore Asian personnel, we will then look to target the Asian universe aggressively,” he told Bloomberg. For the time being, Barclays is focusing its attention on U.S. hedge funds seeking to build a presence in Asia.
Barclays is also building up its London prime brokerage team, with a dozen hires planned. The firm added Lehman Brothers’ North American business, including its prime brokerage operations, in 2008.
Barclays certainly isn’t alone in its focus on Asian prime brokerage. Citigroup has been aggressively expanding its prime finance teams around the world, with a particular focus on Asia—hiring eight professionals for its Hong Kong, Singapore and Sydney, Australia, offices last month. Also last month, Bank of America Merrill Lynch snared Morgan Stanley veteran Futoshi Ago for its Japanese prime brokerage.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...