Thursday, 18 September 2014
Last updated 11 hours ago
Jun 2 2009 | 1:09am ET
Prime brokerage is a primary focus at Citigroup and Bank of America, with both firms hiring to expand their businesses.
Citigroup has brought in about 18 new hires to its global prime brokerage unit, The Wall Street Journal reports, while Bank of America Merrill Lynch has plans to hire 40 new employees for its global financing business, which includes prime brokerage and securities lending. Citi currently employs about 300 people in its prime brokerage unit, while Bank of America has 800 members in its global financing business, which covers a greater area that Citi’s group.
While both Citi and Bank of America are relatively small players in the prime brokerage market, both are trying to take advantage of the industry trend toward multiple prime brokerages. Global prime brokerage has been a rare bright spot for embattled Citi, with net revenue from the group rising 45% last year.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
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