Ex-Morgan Stanley exec Cruz launches $200 mln fund – WSJ

Aug 16 (BestGrowthStock) – Former Morgan Stanley (MS.N: ) (Read more about the money market today. )
Co-President Zoe Cruz has launched a hedge fund named Voras
Capital Management, and raised $200 million for investments,
the Wall Street Journal said, citing people familiar with the
situation.

Cruz has formed two separate funds, a global macro strategy
fund run by herself, and a credit opportunities fund, managed
by Ellen Brunsberg, who earlier ran Morgan Stanley’s European
securitised products group, the WSJ reported.

Voras Capital, which was incorporated in the U.K. in
January, has set up offices in New York and Hong Kong, and is
waiting for regulatory approval for a London office, which will
be managed by Brunsberg, the Journal said.

The 54-year-old former currency trader and bond-trading
executive has hired a number of former Morgan Stanley staff,
including Philip Newcomb, who was co-head of interest rates and
currencies. He is chief operating officer at Voras in New York,
the paper said.

In London, Voras has hired David Irving, who was co-head of
the European mortgage trading desk at Morgan Stanley, and
Justin Worrall, who was the bank’s European residential
mortgage-backed securities structuring and analytics group, the
report said.

Jialin Liu, who previously ran Morgan Stanley’s Asian sales
and trading business, will lead the Hong Kong office, the WSJ
added.
Voras is the Greek word for “north”. Cruz was born in a small
Greek town before moving to the United States.

Over a 25-year career at Morgan Stanley, Cruz ran some of
the most profitable trading desks at the firm. She was often
discussed as the heir apparent to Morgan Stanley Chief
Executive John Mack.

Cruz left Morgan Stanley in 2007, a victim of the financial
crisis.

Cruz declined to comment to the Wall Street Journal. She
could not immediately be reached for comment by Reuters outside
regular U.S. business hours.

(Reporting by Archana Shankar in Bangalore; Editing by Dhara
Ranasinghe)

Ex-Morgan Stanley exec Cruz launches $200 mln fund – WSJ