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Prime brokerage is the generic term for a bundled package of services offered by investment banks, wealth management firms, and securities dealers to hedge funds which need the ability to borrow securities and cash in order to be able to invest on a netted basis and achieve an absolute return.
Citigroup Inc <C.N> is combining its stock trading business with its prime brokerage unit, which caters to hedge funds, private equity firms and other investors. The New-York based bank will also ...
Prime brokerage – An exclusive type of bundled broker service specifically meant to service the needs of hedge funds. Private banking – Private banks provide banking services exclusively to high-net-worth individuals. Many financial services firms require a person or family to have a certain minimum net worth to qualify for private banking ...
Citi and the hedge fund are in talks on how the positions should be valued, the report said. Citi declined to comment on the reported losses. Citi reorganises prime brokerage unit
A custodian bank, or simply custodian, is a specialized financial institution responsible for providing securities services. It provides post-trade services and solutions for asset owners (e.g. sovereign wealth funds, central banks, insurance companies), asset managers, banks and broker-dealers.
Citi Named Best Prime Broker for Consulting Services and Best Hedge Fund Administrator by HFMWeek NEW YORK--(BUSINESS WIRE)-- Citi received two coveted accolades at the 2012 HFMWeek Hedge Fund ...
The traditional service of underwriting security issues has declined as a percentage of revenue. As far back as 1960, 70% of Merrill Lynch's revenue was derived from transaction commissions while "traditional investment banking" services accounted for 5%. However, Merrill Lynch was a relatively "retail-focused" firm with a large brokerage ...
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