The prime brokerage industry is getting smaller.HEDGEAnswers has learned that a mid-Atlantic based-broker dealer, has decided to exit the prime brokerage business. The company has not gone public but our source says the announcement is just days away. The news will send funds that do business with the firm scrambling for alternatives.
A lesson to both new and existing manager; make sure you know who you are doing business with before you do business with them. And always have a back-up!
Understanding the importance of picking service providers with good reputations and longevity is just one of the topics covered on the HEDGEAnswers Conference Call Series. The next call is January 19th at 10.00 am EST. Register by clicking here and Get in on the Discussion!