Brian Fagen had previously spent nine years with Deutsche Bank, and recently joined BNP Paribas following the substantial prime brokerage deal between both banks.
Tag: prime brokerage
As digital asset firms look to reach institutional investors, the largest players have realised the need for prime brokerage services and appear to have all made their moves at once.
Two new teams focused on client management and electronic coverage have been established at Societe Generale, with HSBC’s Jonathan Green taking a leadership role.
Equities and fixed income financing rose in the first quarter at Goldman Sachs, as hedge funds increase balances.
Market volatility sparked by the COVID-19 pandemic has resulted in a significant increase in prime brokers asking for more collateral from hedge funds.
BNP Paribas CEO Jean-Laurent Bonnafé says Deutsche Bank prime brokerage business transition is proceeding very swiftly, with restructuring costs expected to reach €100 million this year.
Takeover comes just weeks after GPP said it would shutter its prime brokerage business as profit margins were contracting.
The swap and cash prime brokerage will be combined onto a single infrastructure with Nuvo Prime, as Societe Generale targets growth of business.
Data from The TRADE’s sister publication Global Custodian predicts prime brokerage revenues to soar in 2020, as banks face up to challenges in their service provision and business models.
The stalwart of the industry-leading prime brokerage business at Morgan Stanley will retire after serving over 30 years with the US firm.