JPMorgan's Tse, Ex-Duquesne, To Launch Hedge Fund

Oct 1 2012 | 1:44pm ET

A top JPMorgan Chase executive is leaving the bank to return to the hedge fund industry.

Irene Tse plans to launch her own hedge fund early next year, Bloomberg News reports. She joined JPMorgan less than two years ago as chief investment officer for North America after three years at Duquense Capital Management, which closed its doors in 2010.

Tse was part of JPMorgan's abortive effort to boost returns by increasing risk, an effort that collapsed earlier this year when a trader on Tse's European counterpart's team cost the bank billions on credit derivatives. It is unclear when she will leave; an internal memorandum simply said she was leaving "to focus on external entrepreneurial ventures."

"Irene will work with Craig Delaney"—named head of Tse's group last month—"to ensure a smooth transition," Mathew Zames, co-chief operating officer, said. "She has worked closely with us over the past several months to refocus CIO back to its core mandate of conservative investing as we strengthened our risk management and controls."

Tse's new hedge fund will employ a global macro strategy. At Duquense, Tse traded mortgage-backed securities, interest rates, foreign exchange, stocks, bonds, commodities and other structured products.

Prior to joining Duquesne, Tse spent 14 years at Goldman Sachs, rising to co-head of U.S. rates trading.


In Depth

Q&A: MackeyRMS's Chris Mackey On A High Tech Fix To Broker Votes

Jun 23 2017 | 8:17pm ET

The looming implementation of the EU’s MiFID II rules regarding research has put...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Steinbrugge: Asia-Focused Hedge Funds Offer Great Opportunities

Jun 23 2017 | 3:33pm ET

Emerging market strategies have outperformed their developed-market peers for five...

 

From the current issue of