JP Morgan Prime Brokerage & Bear Stearns

JP Morgan Prime Brokerage

Just saw this note below related to JP Morgan's prime brokerage arm:
The rise in earnings was mostly from strong performance from its investment banking division, which posted earnings of $3.6 billion compared to a loss last year. The investment banking division was primarily driven by JPMorgan’s prime brokerage business, which the bank acquired in its fire-sale acquisition of failing investment firm Bear Stearns last year.

"Bear Stearns equity [trading] business was very strong," JPMorgan CEO Jamie Dimon said during a conference call Thursday as quoted by the Wall Street Journal. source

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Tags: JP Morgan Prime Brokerage, JP Morgan, (JPM), Prime Brokerage, Hedge Fund Prime Brokerage

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