Mark Fuchs, the former head of equities for South East Asia at Credit Suisse, plans to start a hedge fund to trade shares of companies in the region after leaving the bank, said Bloomberg.

The fund, which will be based in Singapore, will seek to raise a “significant” amount of money from investors both outside and inside Asia, Mr Fuchs said in an interview. Mr Fuchs said he will form the company with a Credit Suisse colleague, who was not named. Mr Fuchs made the announcement after his resignation took effect on 9 May.

Hedge funds in Asia had a total estimated size of $160 billion at the end of 2007, a 21 per cent increase from the previous year, according to Eurekahedge, a Singapore-based company that tracks the industry.

Mr Fuchs had worked at Credit Suisse in Bangkok for nine years.