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Spending a Penney at Merrill Lynch

Jeff Penney, co-head of global financing business in Merrill LynchÆs prime broking unit, talks about operations and risks.
Jeff Penney is a managing director at Merrill Lynch. He formerly worked at CS Financial Products and Morgan Stanley. He is now the co-head of global financing business in Merrill LynchÆs prime broking unit and is based in New York. He also manages MerrillÆs institutional equities sales force in the Americas. Last week he visited Hong Kong and spoke to AsianInvestor.Do hedge funds need to be mindful of the credit risk of their prime broker?Penney: For the most part, hedge funds are net…
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