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Saturday, July 4, 
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Bear Stearns trader starts billion-dollar hedge fund

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BearStearns.jpgMelissa Ko, a former Bear Stearns Cos. trader, has reportedly formed a new hedge fund. Reuters is reporting that Ko, who ran Bear's Emerging Markets Macro Fund, has formed the new Covepoint Capital with nearly $1 billion in assets.




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Bear Stearns let go of 10,000 of its 14,000 employees after J.P. Morgan & Chase Co. acquired it, adding to Wall Streets numerous layoffs.

Ko is't alone; many former bankers are apparently starting up hedge funds. Earlier this month, two former co-heads of fixed-income at Citigroup Inc., Randy Barker and Geoff Coley, also announced they were starting a hedge fund. Randy Gulian, CEO of executive recruiter InSearch Worldwide, told Corporate Dealmaker's Suzanne Stevens that his firm has seen "the stars" -- those bankers who led deal teams or regularly brought in business -- transitioning to private equity and hedge funds. According to Bloomberg, more than 45 banking executives have landed at PE and hedge funds this year. - Maria Woehr

Here are some of the most recent hedge fund job postings from our Career Center.

The Deal.com's Careerwatch
The Date
The Job
07.14.08 Fund of Fund Due Diligence Analyst
07.14.08 Senior Consumer Analyst
07.14.08 Account Manager - Investor Relations
07.14.08 SR International Securities Lending Trader
07.14.08 HF Structured Product Analyst / Assistant Portfolio Manager
07.14.08 Hedge Fund Analyst-Financials
07.14.08 Hedge Fund Analyst-Healthcare
07.14.08 Market Neutral Trading - NYC

Source: The Deal


See Dealscape: Bear Stearns executives score new jobs
See Corporate Dealmaker: From laid-off i-banker to corporate dealmaker?
See Dealscape: Citigroup, Goldman Sachs to issue pink slips
See Dealscape: Credit Suisse expects more layoffs
See Dealscape: Pink slips at J.P. Morgan
See Dealscape: More Wall Street layoffs at Goldman Sachs
See Dealscape: More Lehman layoffs
See Dealscape: Bear Stearns layoffs begin
See The Deal's Career Center




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