Saturday, 23 May 2015
Last updated 14 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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…