NEW YORK (HedgeWorld.com)–Mark Richardson, global head of derivatives at Commerzbank Securities, has joined Mehmet Dalman, former head of Commerzbank Global Equities, in building a new hedge fund-oriented asset management firm, London-headquartered WMG.
Started in October, WMG is conceived as a broad-scope service provider to high-net-worth individuals, private banks and investment businesses, with a focus on allocations to alternative investments.
Mr. Dalman and his team plan to start various single-strategy hedge funds as well as funds of funds. In addition, they will incubate and raise capital for hedge funds and will structure fund-based securities. They expect to be active in Europe, North America and Asia.
Mr. Richardson, a derivatives expert, worked at Bankers Trust and ING Barings before joining Commerzbank in 1998. There he developed equity and fixed-income derivatives operations and helped with the asset allocation of Commerzbank’s US$2 billion fund of funds, called Comas.
At WMG he will be responsible for the risk management of hedge fund strategies and head a derivatives structuring group.
WMG founder Mr. Dalman joined Commerzbank in 1997 and became a member of the board of managing directors in 2001. Before that, he was at Deutsche Morgan Grenfell Capital Markets in Tokyo, as managing director, general manager and head of Japan equities and equity derivatives for Asia Pacific. His past titles include managing director and head of European and Japanese equities at Credit Lyonnais Securities in London.
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