Tuesday, 27 September 2016
Last updated 12 min ago
Jun 3 2010 | 7:40am ET
High profile trader Greg Lippmann resigned from Deutsche Bank on Friday and is gearing up to launch his own hedge fund, as previously reported by FINalternatives.
Lippmann is forming a hedge fund with other Deutsche colleagues, which will reportedly be called Libre Max, according to The Wall Street Journal.
Last month, Deutsche's head of global markets for the Americas Fred Brettschneider left the firm along with Lippmann's star number cruncher, Eugene Xu. The trio—Lippmann, Brettschneider and Xu—will now be reunited though their new venture.
Lippmann has become a household name on Wall Street and among readers of financial-focused tomes. In the fall of 2005 he took an unpopular stance at Deutsche bank by betting against the subprime mortgage market, however, when the housing bubble burst, bringing rival banks to their knees, Deutsche wound up making billions because of Lippmann's foresight. Gregory Zuckerman writes at length about Lippmann in his book The Greatest Trade Ever, as does Michael Lewis in his book The Big Short.