A former White House chief of staff has joined a hedge fund founded last year by a top JPMorgan proprietary trader.
William Daley, himself a former JPMorgan executive, will serve as head of U.S. operations at Argentière Capital. The Swiss firm debuted last year with US$300 million and is led by Deepak Gulati, who led JPMorgan’s proprietary equities trading.
Daley told the Chicago Tribune that he “hit it off” with Gulati, and that Argentière is the kind of startup that he hoped to work with after dropping his plans to run for governor of Illinois last year.
“Everything I’ve done has been at big firms, big law firms, government,” Daley said. “This is my first startup. I wanted the chance to be a part of something that will grow.”
Daley served as U.S. Secretary of Commerce under President Bill Clinton. He was President Barack Obama’s chief of staff for just over a year in 2011 and 2012.