A Standard Chartered trading head has just joined a star Singapore hedge fund

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Punit Kaji, Standard Chartered’s head of FX cash trading in Singapore, has moved to hedge fund Dymon Asia Capital as a portfolio manager. Kaji joined Stan Chart back in 2009 as head of FX trading for South Asia before shifting to his Singapore role in 2014, according to his public profile.

His new firm, Dymon Asia, has long been one of Singapore’s and Asia’s largest hedge funds. Its investors include Temasek, it currently manages 14 funds, and it employs more than 170 professional staff. High-profile founder Danny Young – who established the company in 2008 with the help of a $100m injection from hedge-fund titan Paul Tudor Jones – had a personal net worth of $610m last year, making him Singapore’s 46th richest person, according to Forbes.

Dymon Asia, which also boasts a private equity arm, has been expanding its portfolio manager ranks over the past 12 months. Earlier this year, for example, its Hong Kong office took on Chi Hyun Kim from rival hedge fund PAG, while its 2018 PM hires include Kiam Seong Ho from Maybank.

The flagship Dymon Asia Macro Fund reportedly has a dedicated team of about 26 portfolio managers, each with an average trading experience of about 19 years.

New Singapore-based recruit Kaji is not the only senior Dymon Asia employee to have worked for Stan Chart. Venture partner Sabiha Sultan was a director in equity sales at the bank from 2010 to 2012, while Dymon Asia chief of staff Kenneth Kan spent seven years there, latterly as head of non-deliverable forwards.

It hasn’t all been smooth sailing for Dymon Asia recently. Last October, the Wall Street Journal reported that the firm had suffered a “rare setback” after mistimed bets on stocks and currencies caused one of its funds to lose 40% of its value over the previous 12 months.

Image credit: Getty

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