Morgan Stanley, Merlin Take Top Spots In Alpha Awards

Oct 23 2008 | 1:34pm ET

The numbers are in and there are few surprises as to which prime brokerages hedge funds prefer.

In Alpha Magazine’s annual awards for hedge fund service providers, Morgan Stanley took the number one spot (up from number two last year) for best prime broker for hedge funds with assets of over $1 billion, followed by Goldman Sachs & Co. in second place and UBS in third.

For the second year in a row, Merlin Securities ranked number one as the prime broker of choice for smaller hedge funds. Shoreline Trading Group came in second, making its debut on the list and edging out last year’s number one, Morgan Stanley, which came in third.

Shoreline’s ranking in the survey reflects how quickly the landscape of the prime brokerage industry is changing as nervous hedge funds jump ship from large investment banks to deal with smaller, more nimble multi-prime brokers.

It was a great day yesterday because it reflected the confidence our clients have in us and proves our multi-prime brokerage model,” said Mike Murray, a partner at Shoreline. “Since Sept. 15 to last night, 23 new accounts have come to Shoreline. The Lehman bankruptcy was really the impetus for people to say, ‘Wait a minute, I need more than one prime broker.’”

Merlin, which like Shoreline has picked up new clients at a rapid clip following the collapse of Bear Stearns and the demise of Lehman Brothers, also believes the multi-prime model will take over as the preferred industry standard.

“Funds continue to migrate to Merlin for our aggregated multi-prime solutions and analytics,” said Ron Suber, a senior partner and head of global sales and marketing at Merlin. “October continues to be a record month, with 35 funds moving assets and balances to Merlin from other prime brokers.”

RELATED ARTICLE:

Prime Brokers Benefit From Market Turmoil

 


In Depth

Q&A: Executive Recruiter Talks Hedge Fund Closures, Hiring Trends

Dec 19 2014 | 6:58am ET

This year, hedge funds have been closing at a rate not seen since the financial...

Lifestyle

Cooper-Hohn Won't Contest Divorce Settlement

Dec 18 2014 | 9:51am ET

The ex-wife of hedge fund billionaire Christopher Hohn will not contest a divorce...

Guest Contributor

Alternative Investment Funds Face A Communications Imperative

Dec 19 2014 | 6:10am ET

A handful of the top alternative investment firms on both sides of the Atlantic...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.