A former UBS Group AG banker is launching a new hedge fund in Hong Kong, betting on a revival of stock sales in Asia that have plunged to a decade low.
Pascal Guttieres said a European insurer is close to inking a multi-year deal to back his Viridian Asset Management with $150 million. He expects to start trading in the summer, pending regulatory approval, with as much as $400 million of capital and 12 employees, including Chief Operating Officer Arnaud Carcel, formerly of Axa Investment Managers.