Merrills aims to boost prime broker profile

Merrill Lynch has relaunched its prime brokerage service with the aim of becoming a top three global player.

The group has boosted investment in its prime broker operation and is now actively promoting it, following a year-and-a-half of building up resources and hiring professionals from its competitors. The group intends to be a total solutions provider to the hedge funds industry.

Merrill Lynch has also moved some members of its alternative investment business to its US private client