Reuters – Hedge funds, with memories of the havoc wreaked by Lehman’s demise still fresh in their minds, are moving away from banks singled out by markets as higher risk, giving rivals a chance to grab lucrative business serving these key clients.
Banks such as JP Morgan (JPM.N), HSBC (HSBA.L) and SEB (SEBa.ST) have all seen hedge funds soliciting the services of their prime broking desks, which lend money to these specialist asset managers and provide back-office services.
