Patrick Boyle, a former trader at Nomura Holdings Inc. (8604) and Royal Bank of Scotland Group Plc (RBS), is starting a hedge fund with backing from Stanley Fink’s International Standard Asset Management Ltd.
Boyle plans to begin trading at London-based Palomar Capital LLP in August with $50 million, he said in an interview this month. Fink’s ISAM, which manages about $1 billion, has agreed to be an initial investor, according to a person with direct knowledge of the situation who declined to be identified because the matter is private.
Palomar uses computer algorithms to try to spot profitable investments in futures tied to stock indexes such as the Standard and Poor’s 500 Index and the FTSE 100. Boyle, 36, joins a growing group of traders who have left firms including Citigroup Inc. and JPMorgan Chase & Co. as banks reduced risk taking after the collapse of Lehman Brothers Holdings Inc. intensified the 2008 financial crisis.