Competition hots up in new-look European prime broking market

Thu Apr 21, 2011

Credit Suisse extends its lead in terms of European hedge fund assets, Morgan Stanley and Goldman Sachs are neck and neck again in terms of mandates, but the chasing pack are closing the gap further on the top five players

After losing its place at the top of the rankings for the first time during the financial crisis, Morgan Stanley has now closed the gap again on Goldman Sachs to leave the two firms neck and neck as the leading prime brokers in European hedge funds by numbers of mandates, as well as leaving Morgan Stanley narrowly ahead of Goldman again by assets.

But Credit Suisse, which was the biggest beneficiary of the changing prime brokerage marketplace during the crisis and which emerged as the market leader overall by assets for the first time last year, has substantially extended its lead at the top of the table by assets again as at the end of 2010.

Deutsche Bank had been the other main beneficiary of the wave of hedge fund firms in Europe that were switching prime brokers during the crisis and was the only other firm apart from Credit...

ISSN: 2151-1845 / CDC10004H


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