Hedge Funds

Merrill FX co-head leaves to launch fund

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Michael deSa, former global co-head of rates and foreign exchange at Merrill Lynch, has teamed up with Farhan Sharaff, former chief investment officer for Cigna, to launch a global macro fund late this year.

Vinya Capital will based in Stamford, Connecticut and will trade a variety of instruments, including fixed income, currencies, equities and commodities.

Both deSa and Sharaff have long track records on Wall Street. Even before Merrill, DeSa was chief operating officer at Deutsche Asset Management, and head of North American Forex and derivatives trading at Citibank. Prior to joining Cigna, Sharaff was global chief investment