WEST PALM BEACH, FL (HEDEGECO.NET) – Another high profile manager at Dresdner Kleinwort Wasserstein [DrKW] has announced his intentions to begin his own hedge fund management venture. According toDow Jones, Jorge Villon, said he is quitting his current job at Dresdner Kleinwort Wasserstein bank for the hedge fund management arena.
This move is the latest in a continuation of the trend where traditional money managers venture into hedge fund management arena to begin their own hedge fund partnerships. Villion was the global head of foreign exchange, at Dresdner Kleinwort Wasserstein, the investment banking arm of Dresdner Bank AG. Villon joined DrKW in 1999 and ran commodities derivatives trading before taking over as global head of forex in February 2003.
According to a bank spokesperson, Villon will be replaced in January 2005 by Harry Culham; deputy head of forex at American International Group Inc. Villion has not provided any details on his proposed new hedge fund as yet. As hedge funds continue to grow it is likely that more high profile traditional managers will continue to move over to hedge fund arena because of perceived opportunities offered by the industry.
Hedge funds added over $16 billion of new investor assets to its overall $1 trillion management assets in the third quarter.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net
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