Saturday, 23 May 2015
Last updated 16 hours ago
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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…