Thursday, 2 July 2015
Last updated 9 hours ago
Dec 23 2008 | 2:25am ET
As hedge funds go, so go the prime brokers: With many Western hedge funds cutting back on their Asian operations or eliminating them altogether, Morgan Stanley has reduced its Tokyo prime brokerage staff to a rump.
The firm, one of two largest prime brokers in the world, cut five of the seven members of its Tokyo prime brokerage team, Bloomberg News reports. The cuts, made last month, leave just team head Roger Dunphy and one other employee in Tokyo serving prime brokerage clients.
Morgan Stanley plans to use its other Asian prime brokerage teams, in Hong Kong and Singapore, to help serve its Japanese prime brokerage clients.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…