Jones, Quant Chief At Goldman, To Step Down

Nov 11 2010 | 3:05am 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

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...