Former Research Head Returns To QFS

Aug 17 2012 | 10:02am ET

Jim Xiong, who quit his post as research manager at QFS Asset Management last year, is back—this time as co-chief investment officer.

Xiong will share CIO duties with Jim Conklin, who replaced him as research head. According to a statement from the $1.9 billion quantitative hedge fund, the two men will collaborate with QFS founder Sanford Grossman in “pursuing new research and managing the existing investment programs.”

Xiong and Theresa Patti, a QFS partner and senior portfolio manager, left the firm last year after its April acquisition of Cenario Capital. Grossman stepped down as QFS CEO to become chairman of the combined company, tapping Cenario boss Karlheinz Muhr to replace him.

Xiong, who has a PhD in mathematics, was an employee and partner of QFS for almost 14 years prior to what the firm is terming his “sabbatical from the industry.” He had come to QFS in 1997 from Salomon Brothers, where he’d developed financial applications, and before that he’d been a management scientist at General Electric’s Center for Research and Development. Prior to that he’d been responsible for the development of energy management systems at CAE Electronics (in Canada).

Said Muhr in a statement: “I am delighted that Jim has decided to return to QFS. During his first 14 years at the firm, Jim played a key role in growing QFS and in contributing to its world-class research process.”

QFS also tapped the firm’s general counsel, David L. Zimmerman, to serve as COO and promoted its managing director of accounting and finance, Dan Bender, to CFO. The two will assume the responsibilities of Robert Shustak, who is retiring from the firm at the end of August. Shustak will remain a director of certain QFS funds and will serve as a consultant to the firm for a period following his departure.

 

 


In Depth

Steinbrugge: Top 10 Hedge Fund Industry Trends for 2017

Jan 3 2017 | 9:03pm ET

Each year, Agecroft Partners' Don Steinbrugge predicts the top hedge fund industry...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

DarcMatter: The Top Trends in Alternative Investments for 2017

Jan 13 2017 | 8:22pm ET

The $7 trillion alternative investments industry is poised for continued growth...

 

From the current issue of

The U.S. Commodity Futures Trading Commission (CFTC) ordered The Goldman Sachs Group Inc., and Goldman, Sachs & Co. to pay a $120 million penalty for attempted manipulation and false reporting of ISDAFIX Benchmark Rates, a global benchmark for interest rate products.