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

GSAM’s Papagiannis on Liquid Alternatives

May 25 2016 | 5:07pm ET

The popularity of liquid alternatives strategies has blossomed in recent years,...

Lifestyle

From Modern Trader: Stephen Curry is a Black Swan

May 18 2016 | 7:43pm ET

What do the rise of the Internet, the sinking of the Titanic, 9/11, and Stephen...

Guest Contributor

LendingClub and the Question of Internal Hedge Funds

May 19 2016 | 8:42pm ET

Peer-to-peer lending platform LendingClub Corp. has been in the news since the firm...