11/19/2009

Wall Street has held a firm grip on the prime-brokerage business for decades, but the market meltdown and increased competition have loosened that grip and forever altered the ranks. "You had an industry that changed at a glacial pace for 20 years go through two years of rapid change," said Barry Bausano, co-head of global prime finance at Deutsche Bank. "Over the past few months, the cement has set."

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