Banker quits for hedge fund
The hedge fund bug has hit Hong Kong's banking community.
Goldman Sachs' head of risk arbitrage and co-head of securities for Asia has quit to launch a hedge fund in Hong Kong, reports Finance Asia.
Hyder Ahmad will leave the bank at the end of the month. His fund will seek to raise around $1 billion from Asia-based investors.
The fund will begin operations this year.
As the finance industry picks up pace in Asia, Asian financial centres such as Hong Kong and Singapore are eager to attract hedge funds. Asian hedge-fund assets nearly doubled to US$115 billion in February from a year earlier, according to Hedge Fund Intelligence.
More exits from banks are likely.
