Credit Suisse Asia's Second-Largest Prime Broker, Behind Goldman

May 21 2013 | 1:02pm ET

Credit Suisse edged out Morgan Stanley to become the second-largest prime broker in Asia this year, according to a new survey.

Credit Suisse added 14 clients and $2.4 billion over the past year, AsiaHedge said. Morgan Stanley still has more clients—although it failed to add any over the year—but those clients have fewer assets than Credit Suisse's roster.

Goldman Sachs remains the region's largest prime broker, with $24.6 billion from 179 clients, both up from last year. The fourth- and fifth-largest prime brokers in Asia, Deutsche Bank and UBS, saw the assets overseen by their hedge funds fall, as did Bank of America Merrill Lynch, which fell into seventh place behind Citigroup, followed by HSBC, JPMorgan Chase and Newedge.

Credit Suisse's growth was fueled by expansion in China and Hong Kong, where it is now the largest prime broker, taking a crown formerly held by Deutsche Bank.


In Depth

Q&A: Fund Administration Comes To The Cloud

Jul 14 2017 | 7:23pm ET

The fund administration sector has been steadily implementing new technology, such...

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

Rastegar: PE Real Estate Gains Momentum as Uncertainty Rises

Jul 21 2017 | 6:04pm ET

The steady march of equity markets and fundamental shift in the direction of Fed...

 
Error

FINalternatives Trending

From the current issue of