CQS Risk Chief Joins I-Bank RenCap

Feb 17 2010 | 1:58am ET

Michael Schulz has left hedge fund CQS for Russian investment bank Renaissance Capital.

Schulz is one of several new faces at RenCap, which last week brought back founder Stephen Jennings as CEO. Jennings, who handed over day-to-day management of the firm in 2007, aims to build RenCap into a major investment banking player, with plans to add new offices and 250 new bankers this year.

“To support these ambitions, we are putting in place world class management with a track record of managing global scale businesses and an entrepreneurial drive to build businesses,” Jennings said.

Schulte has served as risk manager at CQS for two years. He joined the quantitative convertible arbitrage shop in 2008 after two stints at Lehman Brothers’ prime brokerage business in Asia. He also helped found Hong Kong-based fund of hedge funds Alphatraxx.

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