[ I N D E P T H | P R I M E B R O K E R A G E ]
This well diversed client base allows for maximum optimisation and efficiencies to be achieved while being able to throttle our alpha generating offerings to the right client at the right time depending on their needs and environment we are in . Like investing , diversification is a key to our overall strategy and success allowing us to be consistently considered best of class in the past , present and hopefully future years to come ."
Providers are certainly putting the time and money into the prime brokerage business , which has been propping up investment banking revenues of late and motivating some of the aspiring players in the market to invest in new services and bolster their existing ones , with cap intro an area mentioned by many .
The exits and the drama have reshaped how things are done , and who is doing what , but the opportunity out there is ample . Small funds need servicing , large funds need the security , and there are plenty of primes out there willing to cater for each .
It ’ s a new world for all , with the historic risk models being adapted and new entrants armed with technological advantages ready to take on the behemoths . In the coming years we will certainly see new trends , regulations and – most likely – a reshuffling of the pack when it comes to the largest and most influential players . But one thing is for sure , and that is that from March 2020 this whole industry began on a journey of seismic change . And there ’ s plenty more road to travel .
BIG NAMES ON THE MOVE
There have been multiple role changes at the top of the prime brokerage world so far this year ( while of course the majority of the Credit Suisse team have landed new jobs ), here are a handful of the moves we know about .
Ashley Wilson , BNP Paribas > UBS John Jenkin , JP Morgan > BNP Paribas Robert Sackett , JonesTrading > Mirae Asset Management Jorge Hendrickson , Opus > JonesTrading Mark McGoldrick , Cowen > JonesTrading Michael Roberts , Bank of America > Copper Mark Aldoroty , Pershing > Jefferies John Dlubac , Credit Suisse > Barclays Brandon Mulvihill , Jefferies > Crossover Markets Group Anthony Mazzarese , Jefferies > Crossover Markets Group
58 // TheTRADE // Q4 2022