Deutsche's Nolte quits for Citigroup

Raymond Nolte is quitting as a managing director of Deutsche Bank to become chief executive of the fund of hedge funds group at Citigroup Alternative Investments. He starts on September 1 in New York.

Nolte will also be responsible for the group's single manager platform. He will become a member of Citigroup Alternative Investments' management committee and chair its fund of hedge funds investment committee.

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