Wednesday, 24 August 2016
Last updated 7 min ago
Feb 21 2012 | 1:18am ET
Alphabet Management has put a fraternal team in charge of its trading.
Scott Saiers was named head trader at the New York-based hedge fund, Bloomberg News reports. His older brother, Nelson Saiers, is the firm's chief investment officer.
The younger Saiers joins the family business from UBS, where he spent the past 11 years, most recently running U.S. equity-linked trading. He was formerly proprietary stock trader and derivatives market-maker.
"He'll be the main guy to oversee the execution of my strategy," Nelson Saiers told Bloomberg. "Because all traders report to me now, it was imperative to have a right-hand man with strong managerial skills who had traded different assets."
Nelson Saiers has been with the $650 million hedge fund for a year-and-a-half, having joined from Deutsche Bank.