Deutsche Bank AGâs quantitative trading group is leaving to start a hedge fund as the Frankfurt- based bank scales back riskier businesses. Equitech Group, the bankâs proprietary equity unit, is forming Roc Capital Management LP, which will be based in New York and run by Arvind Raghunathan, the bankâs head of global arbitrage, according to the fundâs marketing documents. Roc Capital will open in the second quarter with more than 20 people including traders and scientists globally. âIn this environment, itâs particularly important for individuals to have reputations in order to get access to seed money,â said Nicola Ralston, co-founder of London-based PiRho Investment Consulting Ltd., which advises clients on investing in hedge funds. Josef Ackermann, chief executive officer of the Frankfurt- based bank, said on Feb. 5 he will cut risk by shifting resources from areas such as proprietary trading after âunprecedented market conditions revealed some weaknessesâ in trading operations. He said the firm had reduced risk in proprietary trading by about 75 percent. Boaz Weinstein, 35, left the firm this year with about 15 colleagues to start a hedge fund after the proprietary credit desk he ran lost $1.3 billion in 2008. Michele Allison, a New York-based spokeswoman for Deutsche Bank, declined to comment. http://www.bloomberg.com/apps/news?pid=20601087&sid=agUcSLdvN1xQ&refer=home Great news ! Another intraday liquidity provider !