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

Star Fund Managers Battered By Rocky Ride In Yields, Currencies

May 28 2015 | 6:05am ET

Some of the biggest names in the investment world have been whipsawed by the recent...

Lifestyle

Yale Receives $150 Million Gift from Blackstone’s Schwarzman

May 12 2015 | 12:10am ET

Yale University announced it has received a $150 million gift from Blackstone Group...

Guest Contributor

The Road To Tax Alpha

May 28 2015 | 5:36am ET

Tax-related alerts are increasingly helping investment managers harvest tax alpha...

 

Sponsored Content

Editor's Note