Barclays Boosts Prime Brokerage

Jun 8 2009 | 1:05am ET

Another major investment bank is boosting its prime brokerage business amidst improving performance for the hedge fund industry.

Barclays Capital, which last year gave its prime brokerage a major shot in the arm through the acquisition of Lehman Brothers’ North American business, is expanding in the area as more hedge funds move towards using multiple prime brokers. The firm is “opportunistically” expanding its prime brokerage, Financial News reports, on the heels of similar news about Bank of America and Citigroup.

“Barclays Capital is actively expanding its prime services business throughout the world,” a spokesman told FN.

Just last week, it emerged that Barclays had snagged Ashley Wilson, former head of financing and client services for Europe, the Middle East and Africa and Bank of America Merrill Lynch. Despite that loss, Bank of America is growing in prime brokerage as well, with plans to add some 40 new employees to its global financing division.

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


Hedge Funds Swarm Into Palm Beach

Oct 27 2016 | 2:32pm ET

As the first flakes of snow fall on New York's northern suburbs, Dan Weil of South...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...