Wednesday, 1 October 2014
Last updated 6 hours ago
Feb 5 2014 | 9:33am ET
D.E. Shaw Group's energy chief is leaving the firm after a brutal December.
Jeff Myers will retire at the end of March, The Wall Street Journal reports. His decision to leave after 12 years at the New York-based hedge fund came on Jan. 22, following an 18% loss for his group's Plasma hedge fund.
The $650 million energy fund lost 28% overall last year, and was on track for a losing January, as well.
Myers will be succeeded by two of his lieutenants, Sanjay Jacob and Travis West. Jacob, a former Citadel Investment Group trader, will be senior portfolio manager, based in Overland Park, Kan. West, formerly of power-plant operator Mirant Corp., will handle day-to-day management of Myers' 12-person team from New York.
"We will be sorry to see Jeff retire," Darcy Bradbury, a spokeswoman for D.E. Shaw, told the Journal. "Jeff has managed the unit very successfully over the years, with the team delivering strong long-term performance for our investors."
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
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