At the end of June, JPMorgan launched its European prime brokerage operations, adding around a dozen senior staff to London and obtaining a UK broker/dealer licence that now enables the bank to serve European clients as a European entity.
It is a big move for the bank that took on Bear Stearns’ prime brokerage business three years ago, but had, up to now, done little to expand the business. It speaks of renewed confidence in the hedge fund business and the role that prime brokerage will play for the large global financial institutions.
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