Mark Cutis, a veteran Japanese banker, is prepping his first hedge fund. Cutis, who had served as chief investment officer of Shinsei Bank since May 2004, has quit the firm to set up the fund, Reuters reports.

The former CEO of Bayerische Hypo-und Vereinsbank’s Japanese operations has begun meeting with potential investors. He’s also recruited a team from Shinsei to join him at the new venture.

Details of the fund—including target size and strategy—remain unclear.
Prior to joining HVB, Cutis worked in New York, London and Frankfurt with different companies. These include a 10-year stint with Merrill Lynch in London and New York as well as being the treasurer of the European Bank for Reconstruction and Development in London.