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Alternative Market Briefing

Prime Brokers: Interview, Merrill Lynch prime brokerage global ranking leaps to 2nd place

Friday, March 28, 2008

From Kirsten Bischoff, New York: The Global Prime Brokerage Survey saw Merrill Lynch leap to a second place rating (up from sixth last year). The survey, which is determined by the voting of approximately 2,800 investors and fund managers also ranked Merrill Lynch in 1st place in Australia, as well as awarding it global best of class in client service, consulting, financing, sec lending and cap intro.

Opalesque spoke with Jeff Penney, Managing Director and Co-Head of Prime Brokerage at Merrill about the firm’s ranking and their client service based strategy, which has been their focus for the past two years. “We took a core business and focused on our securities lending footprint. We made great strides in business consulting and capital introductions as extensions of the service and then levered off our outstanding investor client franchise and turn those investor client relationships into financing client relationships. “

Looking towards the future for Merrill’s prime broker platform Penney told us, “We have no product gaps and are well integrated over physical prime brokerage, synthetics in the derivatives market, the securities lending, and all of our clearing capabilities [which we] do globally across asset classes and when you put all of that together we are in very good shape to go forward from here. We think the product is now robust and complete and it’s a global product so we are beyond the growth stage and a......................

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