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Former JP Morgan executive to launch hedge fund
Feb 17, 2011 by Charles Gubert
Bill Winters, the former co-chief executive of JP Morgan Investment Bank, is to launch a hedge fund in London.
Winters, who left JP Morgan in 2009 following a falling out with chief executive Jamie Dimon, has unveiled the Renshaw Bay fund with the support of two of Europe’s wealthiest family investment offices – Lord Jacob Rothschild’s London-listed RIT Capital Partners and Johann Rupert’s Luxembourg-based Reinet Investments.
The former JP Morgan executive is currently one of five commissioners on the UK government’s Commission on Banking – a body created in June 2010 to review possible structural reforms for the UK’s banking sector.
Winters will, however, become chairman and chief executive of Renshaw Bay while Rothschild and Rupert will join as directors. Winters will own 50% of the business with the rest split between Rothschild and Rupert. The firm will market itself to the sophisticated investor base and intends to apply for Financial Services Authority authorisation shortly.
“Our objective is to build a global alternative asset management and advisory business that provides outstanding and differentiated investment opportunities for our founding shareholders as well as other sophisticated investors who value our strong focus on risk management and alignment between investors and investment managers,” said Winters.
In parallel with the announcement, Winters will also become a non-executive director at RIT Capital Partners following the establishment of the business.
