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
ISSN: 2151-1845 / CDC10004H
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