WEST PALM BEACH, FL (HEDGECO.NET) – Mark Richardson has announced he is leaving his employer the Commerzbank to begin a new hedge fund career. Richardson was the global head of derivatives atCommerzbank Securities. He has a combined experience of 15 years in the equity and fixed income derivative business concentrating on the European and American markets. He previously worked at BankersTrust and ING Barings prior to 1998 when he joined Commerzbank.
According to published reports, Richardson was very instrumental in the development of Commerzbank�s $2 billion fund of hedge funds operations, which has become the largest profit earner for the bank. Richardson will help his new firm, Mehmet Dalman to implement its hedge fund management platform which is currently being put together.
The new platform will provide a comprehensive range of alternative investment services according to the report, including not only hedge funds but also fund of hedge funds, structuring of fund linked securities, incubation, as well as research services.
Richardson�s crossover to the hedge fund management arena is in keeping with the trend, as Wall Street and financial institutions continue to lose some of their talent to the growing hedge fund industry. Many of these managers are attracted to the hedge fund industry because of the higher compensation packages that the industry offers.
It is anticipated that this trend will continue, however traditional money managers have also begun their hedge fund management journey as well. This development may enable them to retain some of their experienced managers by offering them similar pay and compensation as offered by the hedge fund firms.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net
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