New York (HedgeCo.Net) – RBC Capital Markets has unveiled its newest venture, the Global Prime Services Group that will provide comprehensive support and a vast platform of services to hedge fund and mutual fund managers as well as institutional asset managers.
Global Prime Services Group comes at a time when hedge fund managers and other institutional money managers are in need of a specialized tier of services. By providing an integral package of service providers and prime brokerage, clients are gaining the robust array of multi-asset class products and services needed in today’s complex and ever-changing markets.
“Building the Global Prime Services Group enables us to truly partner with our clients,” said Greg Mills, head of Global Equity Sales & Trading for RBC Capital Markets. “We are now able to provide a fully consolidated platform that enables us to maximize the benefits to our clients and efficiently employ RBC’s financing capabilities.”
While outsourcing often results in fund managers not receiving the attention and level of services they need, GPS provides a single platform of services and uses a wide-angle view to assess each particular business. This includes capital management, direct marketing, prime brokerage, electronic trading and capital introductions. The strong credit quality and stability of the providers is something that managers are actively seeking.
“While the past few months have seen unprecedented challenges in the brokerage industry, RBC’s strength and stability has been and will remain a source of confidence for our clients, particularly those in alternative investments,” said Jeremy Frommer, head of RBC Global Prime Services.
Global Prime Services Group has seen a vast increase in the number of emerging hedge fund managers that are aligning themselves with the company. Due to the cost efficiency and the simplicity involved in using a full service third party, new managers are capitalizing on the opportunity.
Already a leader in Canada, GPS is expecting substantial growth this year, while aiming to excel side by side with the emerging and existing managers they are working with.
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