Remember Walter Cegarra? He's the Credit Suisse managing director who publicly resigned after nearly a decade in July last year. He's just turned up doing something rather different.
At Credit Suisse, Cegarra was the global head of quantitative investment strategies (QIS) structuring in the global markets solutions business. He was promoted into that role in May 2017, but left just 17 months later. Although Cegarra said that he left voluntarily, the reason for his exit remains a mystery.
Whatever the cause of his disappearance, after five months out of the market Cegarra is back - but not in banking, or at a fund. He's just set up a company, Arch Ventures, which will provide consultancy services to finance companies and fintechs. He's also, 'incubating a consumer software lab.'
Cegarra declined to comment for this article. At Credit Suisse he was responsible for all the bank's cross-asset dynamic investment strategies, including fund derivatives, algos and quantitative investment strategies. It's the kind of skillset that is popular in finance, but Cegarra clearly thinks he's better off pursuing his own thing than working for someone else.
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