James Vinci
As hedge funds have grown, so too has prime brokerage. Market leader Morgan Stanley's prime brokerage MD James Vinci explains the challenges of this business to Saskia Scholtes
For some time dealers have bemoaned a series of pressures on their traditional businesses - not least a lack of trading activity. In the credit markets, increased transparency has squeezed transaction margins to a fraction of what they once were and regulatory attention on the structure of commissions only promises further margin contraction.
It is little wonder then that investment banks are
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