Crisis changes rules of the game for prime brokers
Financial News, April 7, 2008
S3 Partners citations:
Robert Sloan, managing partner of financing specialist S3 Partners, said: "Prime brokerage has become a cornerstone business for Wall Street, right up there with mergers and acquisitions, equity capital markets and debt and credit markets."
Sloan said that outside the 30 largest hedge funds, many do not have the internal resources to deal with these issues. He said: "It's about the daily alignment of the interests of the hedge fund and prime broker and historically this has been a periodic negotiation, when, in fact, you have to do it every day."
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Mr. Robert Sloan, Managing Partner
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