Bloomberg: Deutsche Bank prime brokerage revenue reportedly falls for third year

Deutsche Bank’s Prized Hedge Fund Unit in Downward Spiral
By Sonali Basak and Nishant Kumar
March 14, 2019

A once-lucrative business within Deutsche Bank AG catering to hedge funds is on its way to becoming yet another casualty of the German lender’s chronic turmoil.

The German firm’s revenue from prime services declined for a third straight year in 2018, while rivals Morgan Stanley, Goldman Sachs Group Inc. and JPMorgan Chase & Co. all saw jumps, according to people with knowledge of the business.

Revenue from the high-stakes business of executing trades and lending securities to hedge funds has dropped by more than a third since 2015, said the people, who declined to be identified because the bank doesn’t publicly detail its prime results. The slump was a major contributor to Deutsche Bank’s loss of about $750 million in its equity trading division last year, according to them. The firm said the reference to the size of the decline was inaccurate.

The full article is available at

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