State Street is on the verge of becoming the first custodian bank to offer a full prime brokerage service, but is this market really the place for a custodian to be competing?
Existing prime brokers have been waiting with baited breath for some time to see what State Street is planning to do. But now, with the launch of its first prime brokerage client due later this year, most are unaware of the extent of State Street’s plans.
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