HSBC preps international prime finance service
HSBC's plans to establish a global prime services platform will culminate with the launch of a full international prime finance service for US hedge funds in 2014
HSBC wants to carve out a niche for itself in the increasingly crowded US prime brokerage market by playing to its strengths in emerging markets, according to Paul Busby, its head of prime finance sales in America.
The bank aims to capture business from US hedge funds that are moving into the rapidly growing emerging markets of Asia, Latin America and the Middle East. This is where the bank has its strongest clearing and execution capabilities.
"We're not looking to compete with the big US
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