UPDATE 1-Prime brokerage boom generates big third-quarter windfall for Wall Street banks
Published on: Oct. 16, 2025, 1:03 a.m. | Source: Devdiscourse
In the latest quarter, the largest U.S. banks led by JPMorgan Chase, Goldman Sachs, and Bank of America flagged big profits from the booming business of prime brokerage, which involves lending cash and securities to hedge funds to help execute large trades. The prime brokerage business on Wall Street has benefited this year from surging valuations of companies across sectors, with some banks warning that asset prices may be unsustainably high.
