Barclays, opens new tab is winning business from its top Wall Street rivals in prime brokerage, a lucrative investment banking battleground where lenders are battling to serve hedge funds in an array of increasingly complex trades.
The British bank has risen to fifth in the revenue table for prime broking for the year to the end of June, from around seventh five years ago, according to data seen by Reuters from research firm BCG Expand.
Mike Webb, global head of liquid financing at Barclays, told Reuters his team was now a genuine “disruptor” of the prime brokerage business.
The full article is available at https://www.reuters.com/business/finance/barclays-reaps-hedge-fund-riches-battle-prime-brokers-2024-07-25/