Prime brokerage, now conducted typically large organisations with well-known names such as Goldman Sachs, Merrill Lynch, and Barclays Capital among others, was coined as a term by the US broker-dealer Furman Selz in the late 1970s.
The concept was copied quickly by firms such as Morgan Stanley, Merrill Lynch, Lehman Brothers, and Goldman Sachs, all of which developed their own domestic (US) businesses in the 1980s. The first prime brokerage business outside the US was created by Merrill Lynch
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