Irene Tse Leaving JP Morgan to Begin Own Hedge Fund

October 2, 2012 James Heinsman Hedge Fund News

Irene Tse at the Keyboard

After less than two years working at New York’s JP Morgan as chief investment officer for North America, Irene Tse, age 43, will be leaving her position to launch her own hedge fund, according to people with access to the information. Tse’s plans have not yet been announced formally.

Tse’s future hedge fund will make investments based on global economic trends, the informers added.

JP Morgan’s Chief Executive Officer Jamie Dimon has been reducing risk in the investment office ever since traders in London lost $5.8 billion in the first half of 2012 building a position in credit derivatives. With the exit of Tse the department will lose one of its most experienced leaders after the shake-up in the UK office consisting of firings in the wake of bets-gone-bad by the London-based trader Bruno Iksil. Iksil was known at times as the ‘London Whale’ because his bets were big enough to move the entire market.

The former Chief Investment Officer, Ina Drew, retired only four days after CEO Dimon announced the firms initial losses on May 10. Drew is the one that hired Tse in January, 2011 to manage North American operations. Before that Tse spent three years as a portfolio manager for Stanley Druckenmiller’s Duquesne Capital Management LLC hedge fund. There she was busy trading mortgage securities and betting on interest rates, foreign exchange, credit equity, commodities and structured products.

Tse is a concert pianist and a native of Hong Kong.

Duquesne Capital Management, Ina Drew, Irene Tse, Jamie Dimon, JP Morgan,

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