Finance / United States
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Bear's Prime Brokerage - Alive After All?
March 2008 | Corporate Financing News AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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It is widely acknowledged that a primary attraction for JPMorgan Chase in its takeover of Bear Stearns (aside from the fact that it was bankrolled by the New York Federal Reserve) was the opportunity to make an immediate entry into the lucrative brokerage business. However, the industry consensus has been that Bear's competitors in this hotly contested market, have been picking up clients defecting from the troubled investment bank. However, the latest prime brokerage survey suggests that the unit may not have suffered as much damage as had been thought, delivering a potential boost to the chances of the JPMorgan/Fed