Deutsche Bank Prime Broker Said to Join New Hedge Fund

Christopher Dennis, a prime broker with Deutsche Bank AG in London, is leaving after eight years to join a hedge-fund startup, according to two people with knowledge of the matter.

Dennis is joining the London-based firm being established by former Citadel Investment Group and Naya Management money manager Bruce Emery, the people said on Tuesday, asking not to be identified because the information is private. Emery and an official at Deutsche Bank’s press office declined to comment.

Emery registered Greenvale Capital in London on March 6. Dennis will head fundraising for Emery, the people said. Emery is returning to the market after settling a lawsuit in December against Masroor Siddiqui, with whom he co-founded Naya.

Deutsche Bank is considering scaling back prime finance activities catering to hedge funds, a person familiar with the matter said yesterday. The Frankfurt-based firm, which runs Europe’s biggest investment bank, is reviewing different options to boost profitability.

Dennis joined Deutsche Bank in June 2007. He previously worked as an executive director at Morgan Stanley and at Goldman Sachs Group Inc., according to his LinkedIn account.

Emery co-founded Naya three years ago. He sued Siddiqui for trying to force him out, according to documents filed in a London court in October. The terms of the settlement weren’t disclosed. He spent nine years at Ken Griffin’s Citadel, according to his LinkedIn account.

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