Hedgefund.net informed us that the head of financial giant Citi’s prop trading desk plans to leave his post to start a new hedge fund. London-based Sutesh Sharma registered a new firm, Portman Square Capital, in the United Kingdom last month with Citigroup co-worker Toby Lingard, according to a Bloomberg report.
Sharma’s move is a response to Citi’s attempt to cut down on its in-house proprietary traders to comply with the Volcker Rule, who forbids banks from trading with its own money….
http://www.hedgefund.net/publicnews/default.aspx?story=12812
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