Lehman To Boost Brokerage Biz

Oct 5 2006 | 2:54pm ET

Lehman Brothers will seek a bigger share of the lucrative prime brokerage market, according to a CIBC World Markets research report.

The Wall Street giant’s chief administrative office, David Goldfarb, told a CIBC analyst that his firm’s prime brokerage unit is too small to compete with Goldman Sachs and Morgan Stanley, which dominate the market. According to the report, “the growth of the prime brokerage business remains a high priority and big push for the firm.”

Just last week, Jefferies & Co. announced that it was also entering the prime brokerage market and would be targeting small hedge funds.


In Depth

Star Fund Managers Battered By Rocky Ride In Yields, Currencies

May 28 2015 | 6:05am ET

Some of the biggest names in the investment world have been whipsawed by the recent...

Lifestyle

Yale Receives $150 Million Gift from Blackstone’s Schwarzman

May 12 2015 | 12:10am ET

Yale University announced it has received a $150 million gift from Blackstone Group...

Guest Contributor

The Road To Tax Alpha

May 28 2015 | 5:36am ET

Tax-related alerts are increasingly helping investment managers harvest tax alpha...

 

Sponsored Content

Editor's Note