[ I N D E P T H | P R I M E B R O K E R A G E ]
Welcome to prime brokerage in 2022 . It ’ s a fastpaced world of high-profile exits and market share reshuffling , of revolving doors in the most senior positions , and headline-grabbing sagas which could well end up being the subject of a Michael Lewis book in years to come .
The change has been biblical . With household names Credit
Suisse , Deutsche Bank and Nomura all but departing the scene , the landscape has shifted dramatically . What remains are three Goliaths staring down at a field of plucky challengers moving upstream , and new entrants swooping in at the lower end of the market armed with the latest technology in a legacy-wrapped world .
The ripple effect has seen fierce competition for those larger clients who were found shopping for new partners following the exits of their former primes , and gaps in the servicing of smaller , and newer , funds .
Some remaining bank primes are seeking a
48 // TheTRADE // Q4 2022