FBR to quit prime brokerage
11 January 2011 Los Angeles
Image: Shutterstock
Just 16 months after its launch, FBR Capital Markets is closing its prime brokerage unit.
The unit, which described itself as a 'mini prime brokerage' recruited heavily from Shoreline Trading when it opened in August 2009 and specialised in servicing smaller hedge funds.
However, the financial crisis meant it struggled to gain clients.
The unit, which described itself as a 'mini prime brokerage' recruited heavily from Shoreline Trading when it opened in August 2009 and specialised in servicing smaller hedge funds.
However, the financial crisis meant it struggled to gain clients.
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