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ABN Considers Investing In Fund Startup

03 Mar 2006

Merebis Capital Management has yet to launch and ABN AMRO will not have any ownership interest in the operation.

Merebis Capital Managementhas yet to launch and ABN AMRO will not have any ownership interest in the operation. A decision on whether ABN capital will be invested is pending board approval. In addition, Geoff Wyatt, a partner at Merebis, is still working in ABN's markets division. An article in last week's DW incorrectly described the setup. A corrected version follows below.

ABN AMRO is considering investing in a startup that is being put together by a group of former and current staffers. ABN's board has yet to decide on the investment, while former staffers Paris Badekas, previously global head of equity derivatives trading at ABN, and Gary Wolens, global head of equity derivatives, are finalizing the details of the startup, dubbed Merebis Capital Management. The pair have been joined by Jean Maigrot and Geoff Wyatt: Maigrot previously worked at the Dutch shop and Wyatt is still employed in its markets division. Their roles at Merebis could not be determined.

Badekas, Maigrot and Wyatt did not return messages and Wolens referred calls to Mark Bennewith, spokesman for ABN, who did not comment on when the board's decision is expected.

03 Mar 2006