JP Morgan works to retain Bear hedge fund clients

JP Morgan Chase, by dint of its Bear Stearns deals, is an instant powerhouse in the prime brokerage business. But it has a lot of work ahead of it. The firm is in overdrive to appease Bear Stearns' hedge fund clients, ensuring them that all will run smoothly with new owners at the helm. According to Financial News Online, several hedge funds seem restive and have moved to hire other prime brokers, so as not to overly rely on Bear Stearns. Some may have moved assets to others that are seen as less vulnerable and less reliant on the wholesale market for funding. You can bet Morgan Stanley and other top prime brokers are sensing opportunity.  

For more:
- here's the article from Financial News Online

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