JPMorgan Prop Trader Plots US$500M Hedge Fund Launch

Feb 15 2013 | 3:05am ET

JPMorgan Chase's top proprietary stock trader will leave the bank to launch his own event-driven hedge fund.

Deepak Gulati's Argentière Capital could net as much as US$500 million, the Financial Times reports. The new fund is expect to launch in the second or third quarter.

Argentière, named for a French ski resort, will actually be based in Zug, Switzerland. It is expected to stick to the event-drive strategy Gulati has employed at JPMorgan, and will feature his team from the bank.

Gulati's decision to go into business for himself was apparently inspired in part by the departure of his boss, Mike Stewart, a year ago to do the same. Still, the FT reports that Gulati's upcoming split with JPMorgan is amicable.


In Depth

FINtech Focus: Fundbase Aims To Revolutionize Access To Hedge Funds

Jan 23 2015 | 11:03am ET

Global investment in financial technology—also known as fintech—is booming....

Lifestyle

Ex-Hedge Fund Billionaire Won’t Run For Senate

Jan 23 2015 | 5:48am ET

Ex-hedge fund manager Tom Steyer will not run for Senate after Sen. Barbara Boxer...

Guest Contributor

From Switzerland With Love: Some Hard Truths About Central Banks And Risk

Jan 23 2015 | 7:54am ET

In the wake of the Swiss National Bank uncoupling the country’s currency from...

 

Editor's Note