JPMorgan Chase has rolled out a prime brokerage unit in Europe for hedge fund clients, Financial Times reports. The bank was blocked from offering a full range of clearing, settlement, lending and financing services demanded by clients before the launch of the U.K. legal entity.
JPMorgan does business with hedge fund managers that oversee 70% of assets under management. Citigroup, Deutsche Bank and Bank of America have also expanded their presence in prime brokerage in recent years.
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