Launches & Closures

Ex-JP Morgan team at WHARD Stewart gets started with global EM macro rates and FX trading strategy

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WHARD Stewart, the new emerging markets macro firm led by former JP Morgan global prop trading chief Mike Stewart, is up and running in one of the most significant new crossovers from the investment banking world to the hedge fund world.

The fund – which focuses exclusively on fixed-income and foreign exchange instruments in global emerging markets – started trading in August with internal partner money and is expected to be managing some $150 million of capital from a core group of initial seed investors within the next few weeks.

With offices in Chichester and Belgravia, the eight-strong