Nomura is working with Borut Miklavcic, head of its fixed-income proprietary trading desk to launch an internal hedge fund, The Wall Street Journal reports. Nomura intends to provide capital for the vehicle.
Miklavcic and Nomura have incorporated Nomura Cross Asset Strategies and plan to spin off the fund once it is up and running. The new offering is designed to limit the risks that banks can take and prevents them from trading with their own capital.
Click here for the story from The Wall Street Journal.