Morgan Slade, former head of statistical arbitrage trading for the proprietary trading desk at Merrill Lynch, is reportedly in talks to join a fund run by Texan billionaires Sid and Lee Bass. Slade is predicted to start work on the Sid Bass managed BBT Fund, according to an official familiar with Slade's plans. Clive Bode, spokesman for the Bass brothers in Forth Worth, Texas, declined comment and Sid Bass could not be reached by press time. Slade did not return calls.
BBT is a multi-strategy relative value fund with USD2 billion in assets under management, according to Institutional Investor.
Slade left Merrill Lynch after the Wall Street firm decided to cease statistical arbitrage trading on its prop desk (DW, 1/12).
