Tuesday, 26 May 2015
Last updated 3 days ago
Jan 25 2010 | 8:15am ET
Robert Litterman, who led Goldman Sachs’ once-renowned quantitative hedge fund unit, is retiring from the firm.
Litterman, who has worked at Goldman for 23 years, will step down at the end of the month. The move is reportedly unrelated to either President Barack Obama’s plan to bar banks from hedge funds or Goldman’s decision to shutter its quantitative Global Equities Opportunities hedge fund. Litterman told clients last month that he would leave the group.
Litterman did not actually manage any funds at Goldman. But he did oversee the once hugely successful business in both good times and bad, including a $3 billion bailout of GEO in 2007.
Litterman joined Goldman in 1986, after stints at the Federal Reserve Bank of Minneapolis and the Massachusetts Institute of Technology economics department. He headed Goldman’s risk management department before moving to the quant business, and is perhaps best known for his investment-analysis method, the Black-Litterman Global Asset Allocation Model.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…