Ahmet Arinc, the former head of foreign exchange and emerging-market debt trading at Deutsche Bank, is preparing to start his own hedge fund with at least $100 million in initial capital, according to two people with knowledge of the matter.
Bloomberg News reports that Arinc is setting up Cirera Capital Ltd. in London, which is expected to start betting on macroeconomic trends across emerging markets in the first quarter of next year, the people said, asking not to be identified because the information is private.
In the meantime, Bloomberg also reports that BlueCrest Capital Management LLP, the investment firm run by billionaire Michael Platt, is putting $300 million into a new hedge fund set up by Maxime Kahn, the former head of proprietary trading at Societe Generale.
Kahn’s Paris-based fund, 111 Capital, will start trading with the money in August or September and invest in stocks and derivatives, he said in an interview. He won’t begin looking for other outside investors for at least 18 months, he said.
Finally, Reuters reports that Morgan Stanley named a new chief executive of its office in Saudi Arabia on Monday, as the firm carries out work on high-profile deals like the initial public offering of state oil giant Aramco.
Abdulaziz Alajaji was previously head of corporate banking at JPMorgan & Chase Co in the kingdom.
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