Prime brokers "missing opportunities"

NEWS

LONDON -- Banks offering prime brokerage services are failing to take advantage of the surge in US and European hedge fund growth, according to a survey by TCA Consulting made public last month.

The hedge fund industry is worth around $575 billion annually in the US and Europe, but poor levels of operational efficiency, and a lack of straight-through-processing for prime brokerage clients are hampering banks’ attempts to harness the market, said the London-based firm.

"Prime brokers should not