UBS and CSFB to grow prime brokerage

"UBS aims to become one of the top three global providers of such services," the bank said in its financial report, released on February 10. "Through prime brokerage, UBS becomes a business partner to the emerging entrepreneurs of the hedge fund world. Some of today’s hedge fund start-ups will develop into multi-billion dollar global asset management businesses, and will rank among UBS’s largest clients in years to come."

The bank said "a clear signal" of these ambitions was the acquisition o