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RenTech Has Been Pulling Money From Deutsche Bank for Months

  • Hedge fund firm is said to move business to Barclays, BofA
  • Renaissance Technologies remains major client of Deutsche Bank
Bloomberg business news
RenTech Has Been Taking Money Out of Deutsche Bank for Months
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Renaissance Technologies, the hedge fund giant that Deutsche Bank AG has counted as one of its largest clients, has been taking money out of its prime brokerage accounts with the German lender over the past few months, according to people familiar with the move.

While Renaissance, the secretive firm known for its unrivaled Medallion Fund, remains a major client of Deutsche Bank, it has been moving business to Barclays Plc and Bank of America Corp. -- relationships it started this year -- and other banks, according to the people, who asked not to be identified because the information isn’t public.