4 ms·
It's tough to quantify. It's not just about the PB revenue itself. It's the fact that it's an entry point for a lot of institutional client activity that's nece
by dcolkitt 5y ago
It's tough to quantify. It's not just about the PB revenue itself. It's the fact that it's an entry point for a lot of institutional client activity that's necessary for a lot of other lines of business.
For example, investment banking is a very lucrative business. Let's say you're trying to win a big-ticket IPO. To run a credible IPO you need to be able to fill an order book of deep-pocketed, credible public equity investors. That requires having a relationship with these institutions. The primary way those relationships are built is through a prime brokerage business.