Bank of America Bids Good-Bye to Prime Brokerage
Deal to sell to BNP Paribas. Not a premier player BA ranked in second or third tier, chasing Morgan Stanley and Goldman. Had about 500 hedge fund clients,nothing to sneeze at. With demise of Bear, landscape changing:opportunities for newcomer to carve niche. (Ex: Citi recently carved specialty as a stock lender). Identifying niche not easy, given competition.
More-FINalternatives article
Citi's Pandit Calls for Debate on Financial Regulations
Merrill Chief Campaigns for Reserve Window
Evidence of Front-Running on Wall St. at portfolio.com
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