Ex Foreign Exchange Trading Chief Of Deutsche Bank Shuts Hedge Fund To Join Rival

    Deutsche Bank’s former head of their foreign exchange Trading division, Ahmet Arinc, is joining rivals ExodusPoint Capital Management. Arinc joins along with his team after closing the hedge fund he started four years ago after leaving Deutsche Bank.

    Arinc, after quitting the German Bank, founded   Cirera Capital with Tijen Gumusdis, his ex-colleague. According to Bloomberg news, which saw the investor document, he is liquidating the hedge fund that focused on the emerging market. Arinc and Tijen managed a $500 asset which grew from the initial $17 million fund they started with.

    Declining Fees

    After analyzing their investment company’s increasing cost of operations, the duo decided to close their fund. This run trend is seen across others, too, with many rival hedge funds run by individual managers either merging with bigger funds or shutting down.

    They informed their investors in a letter issued in August they ta spent several months evaluating how to manage rising costs and other requirements to operate a fund of their size. The declining fee structure and other challenges made it expensive and difficult for them to continue further.

    Arinc and Gumusdis had additional fund commitment, which would have taken their asset under management close to $1 billion, according to confidential information from a certain source. However, both decided to close the fund and continue under a new umbrella.

    The new company ExodusPoint will have a team of traders who will combine their efforts to manage a hedge fund of the size of $13.4 billion.

    Arinc and a spokesman for ExodusPoint declined to comment after the firm had posted a 5% return in August.

    Gurmusdis, the former flow trading head for Eastern and Central Europe, Africa, and the Middle East, along with Arinc, gave their investors a 43.7 % return since launch from their Cierra Capital hedge fund. This year they have given so far 9.2%, according to the letter given to investors last month.

    Diversified Asset Risk 

    ExodusPoint represents multistrategy investments, and they have aggressively hired hedge fund talent from the market. Investors are shifting from single strategy hedge funds and investing in multistrategy investments.

    Recently Heron Bay capital shut down, and its team led by Sean Gambino joined rival Eisler capital. Similarly, Industry veterans Mitesh Parekh and Colin Lancaster have joined Schonfield.



    RELATED ARTICLES

    How To Find the Best FD Interest Rate for Senior Citizens Using an FD Interest Calculator

    How To Find the Best FD Interest Rate for Senior Citizens Using an FD Interest Calculator

    FDs are one of the most preferred investment products for senior citizens as they offer...
    online jobs for students

    Online Jobs for Students: Best ways to Earn Money & Build Skills 

    Balancing academics and price range can be challenging for college students, but online jobs offer...
    Best Trading Apps to Open a Demat Account

    Best Trading Apps to Open a Demat Account: Features & Fees

    Investing in the stock market has become more accessible than ever with trading apps that...
    5 Mistakes to Avoid for Choosing the Best Share Market App

    5 Mistakes to Avoid for Choosing the Best Share Market App

    Investing in the Indian share market is now easier than ever in the current digital...
    Wheon.com finance tips

    Wheon.com finance tips of 2025: What’s Changing and Why It Matters

    The financial world never stands still, and 2025 is no exception. This year, we’ve witnessed...
    wheon.com finance tips

    Wheon.com Finance Tips: Top Financial Services Trends of 2025

    Wheon.com finance tips are more important than ever, given how fast money matters are changing....
    How To Find the Best FD Interest Rate for Senior Citizens Using an FD Interest Calculator

    How To Find the Best FD Interest Rate for Senior Citizens Using an FD Interest Calculator

    FDs are one of the most preferred investment products for senior citizens as they offer...
    What is a Yoga Swing

    What is a Yoga Swing?

    A yoga swing is a fabric hammock or collection of straps that hold your body...
    healthy habits

    Healthy Habits For Your 20s: A Handbook for Long-Term Health

    Your 20s are a transformative decade, shaping your destiny, health, career, relationships, and overall well-being...
    how to make Studio Ghibli-style images

    How to Make Studio Ghibli-Style Images for Free: Learn Here 

    Studio Ghibli’s signature artwork fashion—lush backgrounds, whimsical characters, and problematic information—has captivated audiences for many...
    well health organic best ways to remove dark spots on face

    Well Health Organic Best Ways to Remove Dark Spots on Face: Natural Ways to Banish Dark Spots

    Well health organic best ways to remove dark spots on face"—that's what when you typed...