If you think hedge fund managers have had to move quickly to keep speed with the markets, their peers and investors' demands, spare a thought for the prime brokers.
To say there is 'never a dull moment' for Jeff Penney, Merrill Lynch's US-based managing director and co-head of global equity financing and services, would be understating the case, as the unit at Merrill Lynch serving hedge funds globally has continued expanding its services, staff and coverage at pace for hedge fund clients.
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