Prime Brokerage: The First Casualty

Featuring: Dushyant Shahrawat, CFA, Senior Research Director, Securities & Investments

Moderator: Ralph Silva, Research Director, European Banking & Payments

The Sibos 2009 annual conference was held in Hong Kong earlier this month to discuss the issues affecting the wholesale and transaction banking community and this year TowerGroup played a major role. With close to 7,000 attendees, the event was not likely going to result in consensus, but in this period of turmoil there was much common ground to build on. TowerGroup was invited to moderate several key debates as well as produce the closing summary, which necessitated our participation in all the key debates at the event. TowerGroup has produced a series of five podcasts covering the principle debates of the event.

This podcast focuses on prime brokerage and the changes that resulted in the demise of Lehman Brothers. Dushyant Shahrawat, Senior Research Director in TowerGroup’s Securities & Investments practice, moderated a panel that included John Callegari of Bank of America Merrill Lynch, Juan Carlos Nieto of Index Intelligence, Kim Ivey of Vertex Capital Management, and Dinkar Jetley of Deutsche Bank. Dushyant talks about the changes traditional customers of prime brokers are experiencing and discusses opportunities for the vendor community.