Deutsche Bank's top convertible trader Nick
Neil is moving over to DB Advisors, the proprietary capital
division of bank in what could be a prelude to the launch of
his own fund. He is understood to have taken his entire team
with him and will be given money by the bank to run until
conditions in the convertible market improve.
Neil has been running the convertible sales and trading
business within the broker/dealer.
It had been thought that Neil would immediately launch a
hedge fund; however, with convertibles very much out of fashion
with investors, DB Advisors has decided to allow him to run an
internal portfolio for at least a year.