Winters, Ex-Top JPMorgan Man, To Launch Hedge Fund

Feb 17 2011 | 6:21am ET

Former JPMorgan Chase executive Bill Winters has been bitten by the hedge fund bug.

Winters, JPMorgan CEO Jamie Dimon’s former deputy, will launch a new hedge fund alongside two of Europe’s most prominent investors, Jacob Rothschild and Johann Rupert. Together, Winters, Rothschild’s RIT Capital and Rupert’s Reinet fund will seed the new firm with tens of millions of pounds, the Financial Times reports, allowing it to set up its infrastructure and possibly make a small acquisition.

The still-unnamed venture eventually hopes to manage billions of pounds in assets; Winters is said to be pitching the fund to family offices and sovereign wealth funds, although it is unclear if he has won any commitments yet.

At least initially, the firm will be an advisory business. It requires U.K. Financial Services Authority approval to move into money management, a process that takes up to six months and one that Winters has yet to initiate.

Winters will own half of the new firm, with RIT and Reinet splitting the other half. He had been rumored to be mulling a number of top European investment banking jobs, but has reportedly told friends he does not want to return to a bank.

Winters also currently sits on the U.K.’s Commission on Banking, which is considering the future structure of the country’s banking industry. The five-member commission is set to complete its work in September.


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