Primed for Action

摘要

The view from Christopher Pesce's midtown Manhattan office is nothing less than spectacular. From his 40th-floor glass-and-steel aerie, Pesce, the global head of prime brokerage at Banc of America Securities, looks down on the 837 acres of trees, fields and rolling hills that is New York's jewel, Central Park. When it comes to prime brokerage, however, Pesce, 39, spends his time looking up — at Morgan Stanley, Goldman, Sachs & Co. and Bear, Stearns & Co. The three investment banks have long dominated that business, accounting for as much as 65 percent of prime brokerage—related revenue, according to estimates by Bernstein Investment Research and Management in New York.