FBR Closes Prime Brokerage Shop

Jan 7 2011 | 1:56pm ET

FBR Capital Markets is pulling the plug on its 16-month-old prime brokerage unit, a source with knowledge of the closure told FINalternatives.

The unit was launched in 2009 with talent like Michael Murray and Matthew Ventura, both lured away from Shoreline Trading.

FBR's prime brokerage unit specialized in servicing small hedge funds—a market that was supposed to be lucrative, as the larger prime brokerages, post-2008, were dropping these smaller clients.

The business, however, never found traction.

Analysts say the brokerage unit represented only a small portion of FBR’s business and its disappearance will not damage the company’s bottom line.

FINalternatives could not reach anyone at FBR's prime brokerage unit for comment.


In Depth

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Lifestyle

Einhorns Busts At WSOP, Finishes In 173rd

Jul 15 2014 | 10:48am ET

Greenlight Capital founder David Einhorn’s World Series of Poker won’t end at...

Guest Contributor

Common Risk Parity Misperceptions

Jul 16 2014 | 11:02am ET

Over the past few years, risk parity has become a component of most investors’...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note