Saturday, 28 November 2015
Last updated 12 hours ago
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.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…