Former Dresdner Kleinwort capital markets chief Joe Dryer is teaming up with a Swiss private bank to found an investment bank that will distribute hedge fund products and seed new hedge funds.
Dryer, former Lehman Brothers banker Peter Horbye and Banque Heritage have teamed up to launch the London-based joint venture, Financial News reports. Dryer said that the new firm would take advantage of the links between private and investment banking, marketing products to both family offices and high net-worth investors.
Dryer is planning hire between 25 and 35 people to work at the firm.
In addition to its hedge fund activities, the firm will focus on distribution of debt and equity securities, as well as leveraged finance, private equity and asset management.