One of the big trends in the hedge fund industry as of late has been for the big funds to consolidate their prime-brokerage service providers. Some funds that may have relied on seven or eight such providers a few years ago now seem to be relying on three or four. So for any firm aiming to crack into the top echelon of prime brokerages, the game is getting tougher. To gain an edge, Merrill Lynch, which certainly has ambitions as a prime broker, has launched a service to help hedge funds recruit top fund managers and executives. The service will also offer advice on retention and training. This is a great idea. Good managers are harder to find these days. The service may be enough to keep Merrill competitive. Look for similar services from others.

For more:
- here's a brief from Financial News