Former Deutsche Bank credit traders, Vassilis Paschopoulos and Nikos Kargadouris, have launched a new hedge fund firm in London.
Known as Balliol Capital, the new firm has received approval from the Financial Conduct Authority in mid- September, reported eFinancialCareers.
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The firm now employs three senior staff including James Mabey, who has joined from MC Squared Global Investors, as new chief operating officer.
Paschopoulos most recently served as head of European investment-grade trading at Deutsche Bank and also served as managing director at Deutsche Bank. Prior to this, he worked at UBS as head of IG corporates credit trading and spent over six years at the German bank.
Kargadouris joined Deutsche Bank from Lucidus Capital Partners, where he was most recently a partner and portfolio manager.
In 2012, Deutsche bank merged its credit and rates business but later in 2013 it separated the two businesses as the rates unit had more power within the firm and those in the credit business felt increasingly marginalized.
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