Ramesh Menon, a former managing director in Citigroup's equity derivatives group, has launched a company to design and manage funds that invest in equity derivatives. The Manhattan-based concern, called Structured Investment Management, will look to service Wall Street's big banks that offer clients mutual fund products.
Menon, who had sued Citi for racial discrimination last year, was fired for allegedly not meeting expectations at work (DW, 11/21). The two sides arrived at a settlement this year which Menon said was satisfactory for both parties.
The ceo said he has already secured his first mandate and is in the process of putting together an equity derivatives mutual fund for a bulge bracket firm. The shop currently has two employees.
