Summary of When Prime Brokers Fail

The Unheeded Risk to Hedge Funds, Banks, and the Financial Industry

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When Prime Brokers Fail book summary
Take a look inside the secretive, largely unreported world of prime brokerage.


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Former investment banker J. S. Aikman has written an advanced textbook explaining the detailed, complex role prime brokers play in the global financial markets. Largely unknown to even sophisticated investors, prime brokers provide the services hedge funds need, including financing, trading, research, securities lending, trade execution and consulting. When Lehman Brothers collapsed in 2008, its prime brokerage business’s legal and operational entanglements deepened the global financial crisis and shook hedge funds and other prime brokers worldwide. While esoteric, prime brokerage plays a huge role in global money management and certainly warrants more of this kind of professional scrutiny. getAbstract recommends this comprehensive insider’s guide to finance executives and investors who want to know more about the wizard behind the hedge fund curtain.

In this summary, you will learn

  • What role prime brokers play in global finance
  • How the 2008 financial crisis affected hedge funds and prime brokers
  • How a prime brokerage operates


From “Euphoric Episode” to Panic
The 2008 financial crisis wiped away the exultant mood that had dominated global financial markets for years. Not only did the collapse kill the market for mortgage-backed securities and other exotic securities, it also deflated the once-high-flying segments...
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About the Author

Management consultant and attorney J.S. Aikman lectures on finance at the University of Toronto. He was formerly a vice president of an investment bank in London.

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Contained in Knowledge Pack:

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    Hedge Funds
    Hedge funds share high risk, high profits, high fees and a very high

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