The world of prime brokerage has had a traumatic eight months. "The industry changed when Lehman went under. Hedge funds were suddenly made aware of counterparty risk, and they realized they couldn't put all their eggs in one basket," said Eddie Guillemette, head of international financing sales at Bank of America Merrill Lynch. The situation appears to be improving, and banks are starting to recruit again. Barclays Capital and BofA Merrill both initiated hiring drives in Asia-Pacific.
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