The prodigious growth of the hedge fund industry over the past five years has bolstered the prime brokerage businesses that serve them, but given the industry's complex, fast-evolving needs, few firms are capable of challenging the prime brokerage leaders.
However, Merrill Lynch has moved aggressively in the past three years to build a prime brokerage franchise that meets the sophisticated needs of hedge funds. As evidence of its success, Merrill Lynch rose to number two overall in Europe and
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