Launches & Closures Hedge Funds

HSBC vet preps all-star shop

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Very few hedge funds employ former deputy central bank governors or bulge bracket bank proprietary trading chiefs among their lower-level executives, but Joseph Petri, former head of global markets for the Americas at HSBC, has assembled an ambitious venture. He recently launched Tandem Global Partners, a New York-based hedge fund shop, rolled out an emerging markets fund and is preparing another two hedge funds and a proprietary trading vehicle.

Petri, who managed HSBC's $30 billion investment portfolio, will oversee the firm alongside co-founders and managing partners Kevin Murphy and David Carroll, both former executives of Stanfield Capital Partners;