Moore Shutters Unit Led By Amaranth Vets

Dec 13 2007 | 1:37pm ET

For the second time in as many years, Manos Vourkoutiotis’ team is out of work. Moore Capital Management announced today that it would be shuttering the Toronto office run by Vourkoutiotis, cutting 15 jobs.

The $13 billion New York-based hedge fund hired Vourkoutiotis and his team of traders from Amaranth Advisors when that firm collapsed amid bad energy bets last summer. Last month, the group posted a 15% decline. In a statement, Moore said the team “did not meet the risk-reward parameters that have guided Moore since inception.”

The Toronto team traded Canadian distressed debt, convertible bonds and equities. Moore said it is not giving up on the Canadian market, just the Canadian team.

RELATED STORY:

Amaranth Vets Lose 15% At New Job


In Depth

Bob Doll's Ten Market Predictions For 2016

Jan 7 2016 | 9:37pm ET

Well-known market strategist Robert Doll has published his annual list of ten predictions...

Lifestyle

Citadel's Ken Griffin Donates $40M To New York's Museum of Modern Art

Dec 22 2015 | 9:23pm ET

Citadel founder Ken Griffin has donated $40 million to New York’s Museum of Modern...

Guest Contributor

Hedge Fund Marketing - Making the Most of Your Salesperson

Jan 20 2016 | 8:11pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth takes a close...