Moore Capital Hires Two Perry Capital Vets

Jul 8 2010 | 10:22am ET

Louis Bacon’s Moore Capital Management has snagged a pair of Perry Capital vets.

Ted Martin, who was most recently with Citigroup's prop desk, has joined the hedge fund firm as head of merger arbitrage. Before joining Citigroup, Martin was the merger arbitrage portfolio manager at Perry Capital from 2006-2008, and before that he served as a trader at Perry for four years.

Jonathan Cheng also recently joined Moore Capital as the portfolio manager for the firm's consumer and retail group. Cheng was most recently a managing partner at Overland Park Capital, and before that, he served as a managing director and head of consumer and retail at Perry.

The two are just the most recent hires by the $14 billion hedge fund firm, which has been picking up talented traders who feared the Volker Rule may make their jobs at large banks obsolete. In February, Citigroup's Matthew Carpenter agreed to join the hedge fund firm as head of equity trading once his non-compete clause expired. He previously led the prop-trading group at Citigroup that oversaw more than $1 billion in assets.

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