Hedge Funds

DB lines up convert spin out


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,