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Two former Deutsche Bank traders have launched a New York-based hedge fund, becoming the latest in a string of former investment bank employees to strike out on their own.

Mark Tanaka and David Hammond, who were co-heads of the bank’s convertible bond desk until July, have created Sanno Point Capital Management, a multi-strategy fund. They hope to launch with around $250 million early next year and, ambitiously, aim to reach the $2 billion–3 billion

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