Bank of America is considering launching a structured credit hedge fund and has earmarked Paul van der Maas, European head of structured products in London, to run the fund. Liz Wood, a spokeswoman at BofA, declined comment and van der Maas did not return calls.
The hedge fund, which likely would trade and restructure exotic structured credit products, is still in the conceptual stages, according to officials.
"This is the perfect job for him," said one rival familiar with van der Maas. Rival structurers said he is a natural trader and an excellent structurer, and is not as interested in the management or political elements of investment banking. In addition, his family lives in the Netherlands and van der Maas travels home for Friday to Sunday. He would likely be able to run the fund from Holland and may take the job for this alone, said rival structurers.
