Nedbank Pulls Plug on Prime Broker as Hedge Funds Stay AwayBy
Late start hurt ability to lure alternative investment clients
Peregrine, RMB, Deutsche Bank, Barclays' Absa dominate market
Nedbank Group Ltd. canceled plans to run a prime brokerage after failing to attract hedge-fund clients, said John Chemaly, head of global markets at the South African bank controlled by Old Mutual Plc.
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