Wednesday, 27 August 2014
Last updated 9 hours ago
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.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...