|Ex-Morgan Stanley co-President and bond trader Zoe Cruz is planning on starting her own hedge fund, two years after she was ousted from the New York-based investment bank. According to the Wall Street Journal, Voras Capital Management will invest in distressed assets as well as macro-level bets on currencies and securities. |
Ms. Cruz, whose nickname “Cruz Missile” reflects her prominence in one of the premier bond-trading desks, was regarded as one of the most powerful women in finance until she was ousted in 2007 because of a $4 billion loss in her mortgage unit. No initial trading date has been announced, however, Ms. Cruz plans on raising $200 million in capital prior to its launch.