Four convertible arbitrage staffers on JPMorgan's proprietary trading desk in New York have left to start a hedge fund. Joe Wong and Yuri Omelchenko, a senior and associate trader respectively, are founding members of the newly forged fund manager, dubbed Linden Advisors, said an official familiar with the move. Tycho von Rosenvinge, v.p. in convertible quantitative research, and Volkan Gulboy, who worked in the technology part of the convertibles and relative value group, are also working on the fund, he said. All declined comment or did not return calls.
JPMorgan will make internal transfers to the convertibles and relative value group to replace the staffers, said a firm official. Dan Schorr, managing director and head of the convertible and relative value group, referred calls to Brian Marchiony, spokesman in New York, who declined comment.