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Awards for Excellence 2013: Best Prime broker

Longevity in prime brokerage has enabled Goldman Sachs to consistently build its presence.

Awards for Excellence 2013

Best Prime broker: Goldman Sachs

Also shortlisted: Citi and Deutsche Bank

Until the credit crisis, Goldman Sachs was consistently in the top-two prime brokers that hedge funds used. When the crisis hit, however, funds looked to spread their counterparty credit risk by moving to four to five prime brokers, opening up the competitive landscape. Several years on, though, those prime brokers that invested to pick up the shared wallet have withdrawn, finding the costs too high and pressure on revenues too tough. In addition clients began to realize the inefficiencies of dealing with several prime brokers and began in 2010 to return to a smaller number. Within the two or three typically used, Goldman Sachs is consistently a choice.

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