Jul 3 2007 | 1:55pm ET
A year ago, hedge funds were spending $10 billion on prime brokerage services, according to the research firm TABB Group. Record trading volume and inflows into the alternatives space have pushed that figure even higher, and experts predict demand to continue to rise. This growth has created huge shifts in the industry, with the big three names in prime brokerage—Goldman Sachs, Morgan Stanley and Bear Sterns—scrambling to maintain their place at the top. Meanwhile, other Wall Street players, including Citi and Lehman Bros., have been quietly restructuring their businesses and are winning an increasing share of the market by investing heavily in customer service and focusing on becoming one-stop shops for all hedge fund needs.
Mar 10 2014 | 11:33am ET
A huge thank you to all of the people who helped make last Thursday’s HFC NY Open Your Heart to the Children Benefit such a success. The charity gala raised nearly $2 million to prevent and treat child abuse in New York, New Jersey and Connecticut. Read more…