Hedge fund firm BlueCrest Capital Management has hired a trader from Deutsche Bank.
Bloomberg reported that William Yearick, an interest-rate options trader, left the German bank last month to join London-based BlueCrest. Yearick’s hire comes at the time when BlueCrest seeks to create an “investment-bank quality” team of traders.
Separately, former Deutsche Bank employees John Roach and Matt Siravo also left the bank last year for BlueCrest.
The trio is part of a larger group of traders who have left the investment banking industry due to the passage of the Volcker Rule, which prohibits banks from making speculative investments that do not benefit their clients.
Co-founded in 2000 by former JPMorgan Chase proprietary trader Michael Platt, BlueCrest boosted its assets by $7 billion since the end of 2011 to $35 billion.