Thursday, 21 August 2014
Last updated 13 hours ago
Oct 15 2008 | 11:53am ET
The hole in the prime brokerage space left by Lehman Brothers Holdings has steered business to rival and smaller primes. One administrator is taking advantage, banking on smaller the end of the market to make a run at the prime broker business.
Conifer Securities said it is working with JPMorgan Chase’s broker-dealer business services and building upon its fund administration and outsourced trade execution services to offer hedge funds financing, securities lending, asset custody and daily account reporting.
Conifer’s move into prime brokerage is spearheaded by Richard Del Bello, who has more than 15 years of prime brokerage experience, including seven years as the head of prime brokerage for the Americas at UBS.
“The credit crisis and subsequent market turbulence have transformed our industry as hedge funds shift assets to the most financially stable investment and commercial banks,” said Del Bello. “At the same time, some of the large prime brokers are squeezing the tails of their client rosters, eliminating hedge fund accounts that aren’t suitable for their business—and that’s where Conifer comes in.”
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note