Upstarts Battle for Prime Brokerage Share

Friedlander, Josh
January 2005
Investment Dealers' Digest;1/31/2005, Vol. 71 Issue 4, p9
Trade Publication
The article focuses on the emerging competition for a stranglehold on the U.S. prime brokerage services. A new survey of the European market shows gains by Credit Suisse First Boston (CSFB) Corp. and UBS AG. CSFB increased its European ranking in terms of new clients in 2004. CSFB's 30 mandates placed the firm in third place, behind Goldman Sachs and Morgan Stanley. While the hedge fund industry grows dramatically, the average fund is employing more prime brokers than they used to. The top 10 prime brokerage firms, in an industry composed of about 30 prime brokers in total, earned about 80 percent of the recent revenues.


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