JPMorgan European Prime Brokerage Debuts

Jun 22 2011 | 9:33am ET

JPMorgan Chase has opened a full-service prime brokerage business in Europe—and is now eyeing Asia for its next big move.

The New York-based firm launched the business today, after establishing a separate legal entity in the U.K., necessary for it to offer a full range of prime services, the Financial Times reports. JPMorgan has also hired about a dozen senior employees for the business over the past year.

“We realize how critical this service is for the hedge fund community,” Sandie O’Conner, global head of prime services, told the FT.

JPMorgan entered the prime brokerage industry in earnest three years ago when it purchased Bear Stearns’ platform, which was focused on the U.S. Jes Staley, who heads JPMorgan’s investment bank, said that the firm has not stopped investing in the prime brokerage since it was acquired in 2008.

The firm still plans to expand its prime brokerage services to Asia, possibly later this year, according to the FT.


In Depth

Q&A: Decathlon Capital On Revenue-Based Alternative Lending

Oct 30 2017 | 3:49pm ET

The explosion in private credit activity since the end of the financial crisis is...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

CAIS: How Technology is Disrupting the Alternative Investment Industry

Nov 7 2017 | 5:35pm ET

If there’s one thing that alternative investment professionals can agree on, it...