WEST PALM BEACH, FL (www.hedgeco.net) – Banc of America Securities (BAS) said it has received 16 “Best in Class” awards in the 2005 Global Custodian Prime Brokerage Survey, which has become anundisputed industry benchmark for excellence. Reacting to the award, Christopher Pesce, Head of Prime Brokerage for BAS said, “We’re thrilled to once again be recognized by the hedge fund communityas a leader in prime brokerage. We take particular pride in winning ‘Best in Class’ for technology in five out of six categories and ‘Best in Class’ in four out of seven categories for hedge fundswith assets greater than $1 billion.�
Bank of America received four �Best in Class� awards for client service, reporting, technology, and operations; for hedge funds, the Prime Brokerage firm also received, three �Best in Class” awards in client service, technology and operations; and among hedge funds with less than $100 million in assets. BAS also received three “Best in Class” awards for technology, operations, and reporting. In addition, BAS was rated “Best in Class” for client service, reporting, technology and operations among single-strategy funds and “Best in Class” for technology and reporting by multi-strategy funds.�
Pesce added, �We continue to invest in new products and services and look forward to working more closely with our clients for our continued mutual success.” Prime Brokerage Clients rated their Prime Brokerage firms in seven categories, Client Service, Securities Lending, Financing (including Risk and Leverage), Reporting, Technology, Operation and Capital Introduction.
Bank of America (NYSE: BAC) is one of the world’s leading financial services companies. Its Capital Markets and Investment Banking group offers a range of services in investment banking, equity and debt capital raising, research, trading, risk management, treasury management and financial advisory services through offices in 35 countries globally.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net
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