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FT.com: JPMorgan star to launch own hedge fund

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A team of JPMorgan’s top proprietary is set to what will be one of the biggest hedge fund of 2012, breaking with earlier plans to stay within the bank amid US changes.
London-based Mike Stewart, JPMorgan’s head of proprietary trading, and former head of emerging markets, is set to his own new hedge fund, Whard Stewart, in the second quarter, people familiar with his plans said. Mr Stewart’s emerging markets at the bank is expected to join him.
Whard Stewart is likely to significant from investors and will almost certainly be among the biggest new entrants into the hedge fund world this year, if not since the credit burst in 2007.
Mr Stewart is understood to be leaving the bank on terms. His departure, meanwhile, marks something of a for JPMorgan, who to comment.
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