Tuesday, 24 May 2016
Last updated 9 hours ago
Feb 25 2009 | 12:21pm ET
With their firm cutting back on risky businesses like their own, Deutsche Bank’s quantitative trading team is leaving to start a hedge fund.
The members of the Equitech Group are setting up New York-based Roc Capital Management, Bloomberg News reports. The fund will open in the second quarter with more than 20 staffers, including traders and scientists. In addition, the firm will have a team of 40 in India, trained by Equitech.
Equitech lost just 1% last year, but Deutsche Bank’s CEO Josef Ackermann’s decision to cut back on proprietary trading includes the quant group. The team returned 2.37% last month.
Roc Capital will be headed by Arvind Raghunathan, currently head of global arbitrage.