Jones, Quant Chief At Goldman, To Step Down

Nov 11 2010 | 2:05am ET

Robert Jones, the head of quantitative investing at Goldman Sachs who oversaw the rise and fall of the firm’s Global Alpha hedge fund, is retiring from the firm.

Jones helped launch the firm’s quant. division 21 years ago and has been a top executive there ever since. He was once expected to be succeeded by Mark Carhart, the former Global Alpha co-manager who served as Jones’ co-chief investment officer at the quantitative equity group.

But Carhart and Raymond Iwanowski, the co-manager of Global Alpha, left the firm last year, after the one-time “Cadillac of hedge funds” lost 40% in 2007 and continued to hemorrhage assets in the ensuing years.

Jones has recently stepped back from day-to-day money management. He will not be replaced.

Jones’s future plans remain unclear. According to The Wall Street Journal, he has discussed a consulting role that would not involve direct money management. Both Carhart and Iwanowski have since launched hedge fund firms of their own.


In Depth

Humble in Hofstra...One Debate an Election Can Make

Sep 26 2016 | 10:20am ET

Tonight's U.S. Presidential debate, infamously coined the “Humbling in Hofstra...

Lifestyle

Vortic: Reimagining the Custom Wristwatch

Sep 27 2016 | 7:24pm ET

American watch manufacturer Vortic, which started out restoring antique pocket watch...

Guest Contributor

Malik: The Ever-Changing Middle Market and The Entering Class of 2016

Sep 2 2016 | 5:01pm ET

Deal sourcing and origination is only going to get more competitive given current...