Friday, 28 November 2014
Last updated 14 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."
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...