Bank prop trading spin-out pace starts to build steam

Thu Mar 24, 2011




Barney Frank Christopher Dodd
The pace of proprietary trading spin-outs by banks in response to new global regulations is starting to gather speed.

JP Morgan has seeded three of its top prop teams with a total of $2 billion and moved them into its asset management arm ahead of a move to attract outside capital and become independent hedge funds in due course.

Under the overall charge of Mike Stewart, the new asset management prop trading...

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