The Man Group’s flagship AHL strategy has seen eight employees, including its lead algorithmic trading technologist and an academic hedge fund-replication specialist, leave the firm.
Chetan Kotwal, the technologist, and Helder Palaro, the hedge fund-replication expert, have both left Man, Financial News reports. Another academic, Harry Kat, has also left, along with five other more junior employees: researchers Yochen Maydt and Steven Piron, traders Tom Ryan and Rebecca Aston, analyst Will England and algorithmic trading systems developer.
A Man spokesman told FN that the exits are nothing to worry about. None of the eight were among the eight key people identified by Man in its Sept. 30 results.
“It is natural to see a few people moving jobs after bonus time,” the spokesman said.
Indeed, FN speculates that unhappiness with 2009 bonus payments at AHL, which lost 16.9% last year.
Still, Man says it “continues to expand its team and has recently made a number of exciting new hires.” Four people joined in the second quarter, and 10 others are set to join AGL in the coming months.
Kotwal has become a director in European flow trading technology at Barclays Capital.