Another bank proprietary trader is laying the ground work for a move into hedge funds.
Deepak Gulati, head of global equity prop. trading at JPMorgan Chase, met with potential investors last week in Rome at a Goldman Sachs conference, Bloomberg News reports. Details are scarce on Gulati’s plan, but it is likely that he would not actually launch the fund until next year.
Gulati, who moved to JPMorgan’s asset management business in 2010 as the bank moved to come into compliance with the Volcker rule barring banks from trading their own capital, works with about 20 traders. Some or all of that team would join him at his new hedge fund, according to Bloomberg.
Zürich, Switzerland-based Gulati joined JPMorgan nine years ago, from Dresdner Kleinwort.