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Friday February 11, 08:06
Hedge-Fund Group Left Deutsche Bank to Open Own Firm
(by Peter Van Bruggen)

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Hedge-Fund Group Left Deutsche Bank to Open Own Firm A hedge fund team of 12 with Davide Erro at the head at Deutsche Bank AG have decided to exit the German bank and to found their own firm, Gandhara Capital, with $1 billion in Hong Kong.

The fund will invest money only in Asia and Europe ignoring the US. This example clearly demonstrates how the world of hedge funds is developing into a market where whole business groups can split from big investment banks and start their large investment houses.

Mr. Erro has experience bringing his team of traders in a new venture. In 2002 three Goldman executives led by Mr. Erro left Goldman for Deutsche Bank, Goldman’s competitor. Eventually he organized a team of executives from around the world at Deutsche Bank, five of whom came from Goldman.

He started his career in Goldman’s arbitrage desk trading in Europe together with Erland Karlsson who is to become top executive in Eton Park Capital Management, three-billion hedge fund in New York.

Davide Erro became Mr. Singh’s successor while running the Asian operations of the Goldman division in Tokyo. Mr. Singh has recently opened New York-based TPG-Axon Capital with $2.8 billion in assets.
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