Bear Stearns Prime Brokerage Services achieved a third place ranking for two years running in the 2008 Global Custodian Prime Brokerage Survey.1 The closely watched survey ranks Bear Stearns third out of the 15 prime brokers rated. The survey’s results are based on the responses of approximately 2,800 hedge funds who were asked to grade prime brokers across nine service areas: client service, operations, hedge fund business consulting services, financing, securities lending, reporting, capital introductions, technology and overall value. Bear Stearns Prime Brokerage Services received 70 “Best in Class” awards across those service areas.
“The results of the Global Custodian Prime Brokerage Survey speak to the strength of our client relationships and our commitment to providing them with the best possible service,” said Louis Lebedin, Global Head of Bear Stearns Prime Brokerage Services. “We received higher marks across the board in all of the service areas, with the greatest increase in Capital Introductions, Consulting and Reporting. We are excited about the results which demonstrate our ability to deliver a strong product – even in this challenging market environment.”
Client comments cite outstanding service, responsiveness and a first-rate technology platform. According to Global Custodian one client commented, “Working with Bear Stearns for a year now, I consider their greatest strength to be their customer service.” The Prime Brokerage Services group is actively expanding its global presence by strengthening its teams and diversifying its platform. In recent months the group has focused on building out its prime brokerage and equity finance offering in London and Asia and on ensuring that the most talented team is in place in order to successfully deliver its multi-asset class capabilities.
Bear Stearns also garnered top ratings in eight major hedge fund categories covered by the survey. The “Top Rated” award designation recognizes excellence in servicing hedge funds in at least two regions or countries across the survey’s five asset sizes and nine service areas. Bear Stearns was “Top Rated” for its ability to service global, single strategy and multi-strategy funds across a wide range of asset sizes. Bear Stearns was further recognized by respondents with sole and multiple prime brokerage relationships.
Founded in 1923, The Bear Stearns Companies Inc. (NYSE: BSC) serves governments, corporations, institutions and individuals worldwide. The Company’s core business lines include institutional equities, fixed income, investment banking, global clearing services, asset management, and private client services. For additional information about Bear Stearns, please visit the firm’s web site at www.bearstearns.com.
1 Survey results reflect the tabulated opinion of investment professionals who chose to participate and does not represent an opinion or qualitative analysis by Global Custodian. A copy of the survey results will be made available upon request.
Monica Orbe, 212-272-9294