Money managers under the microscope
Barc-ing up the right tree?
As the credit crisis has unfolded, many banks have trimmed their prime brokerage units’ lists of hedge funds clients in an effort to reduce lending and risk as fast as possible.
Barclays Capital president Jerry del Missier told Reuters this week the investment bank wants to take advantage of the shake-up in the industry.
“It (the hedge fund industry) has clearly shrunk, but competitors have left the market at a faster rate than the market has contracted so we are taking a bigger share of the market,” he said.
“We already have a top five market position and we’re confident we can move up to the top three.”