The once-lucrative prime brokerage business has come under pressure in the wake of the financial crisis. Faced with a massive decline in hedge fund assets, the large prime brokers have been aggressively streamlining their businesses. Smaller hedge funds have been shown the door or marginalised as the larger banks have opted to concentrate on their most profitable clients.
Against this backdrop small, independent prime brokers known as mini-primes are picking up business from hedge funds jettison
The week on Risk.net, December 9–15 2017Receive this by email