|Following in the footsteps of several other top proprietary traders from throughout the industry, Sutesh Sharma is leaving Citigroup’s Principal Strategies unit to launch his own firm, Portman Square Capital. As reported at FT.com, his move comes on the heels of others made by senior proprietary traders at Goldman Sachs and Barclays which, along with Citi are paring back their trading operations ahead of new U.S. regulations that seek to enforce the Volcker Rule limiting a banks trading of its own funds. |
Morgan Sze, formerly of Goldman, successfully launched his $1.5 billion Azentus fund in Asia early in 2011. Sharma had previously managed the Old Lane Partners hedge fund before taking over Citi’s proprietary trading operation. Sharma’s Portman Square Capital will be headquartered inLondon.