Semerci Quits Duet to Start Boutique EMEA Capital

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Former Merril Lynch Banker, Osman Semerci, has stepped down as chief executive of alternative asset manager Duet Group to launch EMEA Capital: A boutique financial advisory firm specializing in investment management and capital markets.

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Former Merril Lynch Banker, Osman Semerci, has stepped down as chief executive of alternative asset manager Duet Group to launch EMEA Capital: A boutique financial advisory firm specializing in investment management and capital markets.

A source familiar with his plans said Semerci, who was global head of fixed income, commodities and currencies at Merrill Lynch until late 2007 launched EMEA Capital at the beginning of this year.

There are lots of opportunities in the market. Banks are less focused and it is good timing for emerging markets. There are certain deal sizes that the banks will not focus on, so there are opportunities for mid sized specialist companies.

The new firm will be built out of Panaxia Capital Management, a Financial Services Authority registered company shell, founded by Theo Constantinidis, a former global head of fixed income, commodity and currency structuring at Merrill Lynch, in 2009.

FSA records show that Semerci became head of Panaxia in March 2011, when Constantinidis joined UBS as global co-head of the Swiss bank’s FICC special situations group. Also at Panaxia is Alex Haidas, a former credit adviser at London-based asset manager Credaris. Henry Gabay co-founder and chairman of Duet Group said: “Semerci will remain an adviser to the firm over the two years. He remains very close to Duet but not in an executive capacity.”

Before Duet Semerci rose through the ranks at Merrill Lynch. After joining the firm in 1992, he was one of the first bankers to be named a Financial News rising star in 2005, before in 2007, becoming global head of fixed income, commodities and currencies and co-president of global markets and investment banking for Europe, the Middle East and Africa.

Semerci left Merrill Lynch in October 2007, and re-emerged in April the following year as chief executive of Duet. He and Gabay worked together at Merrill Lynch.

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