King Street Co-Founder To Take Over Trading Management

Feb 1 2010 | 1:53pm ET

Distressed-debt hedge fund shop King Street Capital Management is losing its head of trading, as its co-founder prepares to retake the helm at the New York-based firm.

Kieran Goodwin will retire from the firm at the end of March, MarketWatch reports. Goodwin spend six years at the hedge fund, overseeing its 24 traders.

King Street, in a letter to investors, said that Brian Higgins, the firm’s co-founder who managed its trading operations for a decade before Goodwin took over, will succeed his successor. Higgins will serve as head of trading and management. He and co-founder O. Francis Biondi will continue to manage the firm’s portfolios.

King Street, which has never had a losing year since it was founded 15 years ago, soared 20% last year.

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