QFS Partner, Research Chief Out

Sep 29 2011 | 10:42am ET

QFS Asset Management founder Sandy Grossman may have shaken more up at the hedge fund than he expected when he orchestrated its acquisition of Cenario Capital.

Two top, long-time executives at the Greenwich, Conn., quantitative hedge fund quit this summer, just months after QFS' April acquisition of Cenario and Grossman's naming of that firm's CEO, Karlheinz Muhr, as QFS CEO.

Theresa Patti, who one source told Hedge Fund Alert was "basically the voice of the firm" and "like a PM," left in August. Officially, Patti was a partner and senior portfolio strategist who has worked closely with Grossman during her decade at the firm. She also acted as liaison between the trading desk and investment community, according to HFA.

Two months earlier, research chief Jim Xiong quit after 14 years at the firm. It is unclear whether Muhr's arrival impacted either decision.

Xiong is still looking for a new job, HFA reports. Patti plans to take a six-to-12 month sabbatical before seeking a new position at another firm.

Grossman, who founded QFS 21 years ago, stepped down as CEO and become chairman of the combined company after buying Cenario. Grossman is rumored to be mulling retirement.


In Depth

Q&A: Schroders’ Forest Discusses Multi-Asset Investments On Eve Of U.S. Launch

Jul 17 2014 | 8:05am ET

Global investment manager Schroders has $446 billion in assets under management, $...

Lifestyle

Einhorns Busts At WSOP, Finishes In 173rd

Jul 15 2014 | 10:48am ET

Greenlight Capital founder David Einhorn’s World Series of Poker won’t end at...

Guest Contributor

Common Risk Parity Misperceptions

Jul 16 2014 | 11:02am ET

Over the past few years, risk parity has become a component of most investors’...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note