{"id":8928,"date":"2008-10-23T00:00:00","date_gmt":"2008-10-23T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"morgan-stanley-prime-broker-woes-seen-lasting","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/10\/2008\/morgan-stanley-prime-broker-woes-seen-lasting.html","title":{"rendered":"Morgan Stanley prime broker woes seen lasting"},"content":{"rendered":"<p>guardian.co.uk &#8211; Morgan Stanley survived the recent panic in financial markets, but its prime brokerage business may never fully recover.<\/p>\n<p>More than a third of Morgan&#8217;s prime brokerage assets went out the door during the past month &#8212; some rivals said attrition could be as large as one-half &#8212; as investors unnerved by the credit crunch lost confidence in the bank.<\/p>\n<div>Across Wall Street, hundreds of investment funds that relied on broker-dealers established accounts with commercial banks boasting stronger credit. The moves have shaken up a business long dominated by Morgan Stanley, Goldman Sachs Group Inc and Bear Stearns.<\/div>\n<div \/>\n<div>&quot;It&#8217;s a $2 trillion business and in normal market conditions, people kill themselves to move 1 percent of market share. In recent weeks, probably 35 to 40 percent of global market share has been redistributed,&quot; said Alex Ehrlich, global head of prime services at UBS. &quot;Never has there been a more disruptive period.&quot;<\/div>\n<p><a href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/www.guardian.co.uk\/business\/feedarticle\/7908599\" target=\"_blank\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>guardian.co.uk &#8211; Morgan Stanley survived the recent panic in financial markets, but its prime brokerage business may never fully recover. More than a third of Morgan&#8217;s prime brokerage assets went out the door during the past month &#8212; some rivals [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[87,646,2475,673,134,276,920,926,925,3313,97,1440,348,101,30,112,291,436],"class_list":["post-8928","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-angela-merkel","tag-arthur-sulzberger","tag-brokerage-operations","tag-carnage","tag-eliot-spitzer","tag-fourth-quarter","tag-global-equities","tag-goldman-sachs-group","tag-goldman-sachs-group-inc","tag-hemorrhage","tag-lengthy-prison-terms","tag-market-stability","tag-metals-group","tag-raanan-agus","tag-rand-corporation","tag-summer-intern","tag-time-difference","tag-winton-capital-management"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8928","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=8928"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8928\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=8928"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=8928"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=8928"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}