Ex-Deutsche Exec Arinc Said To Prep New Hedge Fund

Jul 7 2017 | 11:57pm ET

Former Deutsche Bank executive Ahmet Arinc is reportedly prepping a new emerging markets macro hedge fund that will launch with at least $100 million in capital.

Arinc, who was head of foreign exchange and emerging market debt trading for the Frankfurt-based bank until he left last July, is setting up the new entity in London, according to a Bloomberg article citing unidentified individuals familiar with the matter.

The firm, named Cirera Capital Ltd., is expected to start trading in the first quarter of 2018, the article said. It was incorporated in early April 2017, according to U.K. regulatory filings.

Amid massive legal woes, including settlements for $7.2 billion in January related to toxic mortgage-related securities and $170 million in June to settle allegations it conspired with other banks to rig the Euribor markets, Deutsche Bank has been streamlining its fixed income business by selling assets and reducing activities in certain countries. 

Arinc was a senior executive in the fixed income division, leading teams of traders engaged in the lucrative currency-linked emerging market bond market. He joined the bank in 1998 and held a number of senior posts, including global head of FX in 2014. 

Tijen Gumusdis, who was made head of CEEMA flow trading in December, has reportedly also left Deutsche Bank and will be joining Arinc in the new venture, Bloomberg added. 

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