Maybe your binary is not in the correct directory?
This is my directories after compiling Valgrind.
x0152532@unx0152532:~/remote-x0152532/valgrind.1$ ls
bin include lib share
x0152532@unx0152532:~/remote-x0152532/valgrind.1$ ls bin
callgrind_annotate cg_diff no_op_client_for_valgrind
callgrind_control cg_merge valgrind
cg_annotate ms_print valgrind-listener
x0152532@unx0152532:~/remote-x0152532/valgrind.1$ ls lib
pkgconfig valgrind
x0152532@unx0152532:~/remote-x0152532/valgrind.1$ ls lib/valgrind/
cachegrind-arm-linux libvex-arm-linux.a
callgrind-arm-linux massif-arm-linux
default.supp memcheck-arm-linux
drd-arm-linux none-arm-linux
exp-bbv-arm-linux vgpreload_core-arm-linux.so
exp-dhat-arm-linux vgpreload_drd-arm-linux.so
exp-ptrcheck-arm-linux vgpreload_exp-dhat-arm-linux.so
helgrind-arm-linux
vgpreload_exp-ptrcheck-arm-linux.so
lackey-arm-linux vgpreload_helgrind-arm-linux.so
libcoregrind-arm-linux.a vgpreload_massif-arm-linux.so
libreplacemalloc_toolpreload-arm-linux.a vgpreload_memcheck-arm-linux.so
x0152532@unx0152532:~/remote-x0152532/valgrind.1$
the value of --prefix is ~/remote-x0152532/valgrind.1
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