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Diamondback Founders Lining Up Investors

Lawrence Sapanski and Richard Schimel could launch their next hedge fund with substantially more capital than originally anticipated.

Since word got out in September that the Diamondback Capital co-founders planned to reunite, Sapanski and Schimel have formed a fund-management business called Cinctive Capital. The firm’s staff so far includes at least one other Diamondback alumnus: portfolio manager Michael Sedoy...

ExodusPoint hires Nomura CFO

Erik Addington joins the multi-strat’s NY office

The post ExodusPoint hires Nomura CFO appeared first on HFM Week.

Hedge fund hires PM who spent his youth competing in maths competitions

It may be a whole new year, but Michael Gelband's ExodusPoint is still behaving like it’s 2018.

After recruiting at least 30 people on both sides of the Atlantic in 2018, the hedge fund has added another two portfolio managers this year.

Nick Firoozye joined to run a systematic fixed income strategy focused on rates. Boyan Petrov joined to run a long/short equities strategy focused on global consumer stocks.

Both men came to ExodusPoint via rival hedge funds, but began their careers in banking. Firoozye was latterly seen at Nomura, where he spent four years as head of global derivatives strategy and three years as a desk strategist. Petrov’s banking career was more attenuated and amounted to a brief flash on UBS’s fixed income desk shortly after he graduated...

AllianceBernstein appoints deputy CCO

Kyle DiGangi joins in New York from Oak Hill Advisors

The post AllianceBernstein hires deputy CCO appeared first on HFM Week.

Point72 recruits ex-New Peak equities head

Edouard Baldini joins Steve Cohen’s firm as PM in London

The post Point72 hires ex-New Peak equities head appeared first on HFM Week.

Quant giant CFM launches research chair in Paris

The Parisian $9.6bn quant firm has launched an econophysics and complex system chair with École Polytechnique...

Cannabis HF Navy Capital hires new CFO

Kevin McLaughlin once held roles at Colden, Tiger

The post Cannabis HF Navy Capital hires new CFO appeared first on HFM Week.

Hedge fund traders far less important than analysts and PMs, says study

How important and talented are traders working on the buy-side? If you've between to eFinancialCareers before, you will know that there are people who say that buy-side traders are not important and talented at all.  Now, a new study of communication patterns at a leading hedge fund confirms traders' comparative insignificance in the hedge fund pantheon.

Undertaken by Daniel Romero at the University of Michigan, Brian Uzzi at Northwestern and Jon Kleinberg at Cornell, the study looked at the interaction of 63 portfolio managers, 26 traders and 95 analysts on a large hedge fund's instant messaging system between January 2010 and December 2011. The academics found that the traders weren't really included in the excitement that ensues from changes in the price of a stock. - The initial discussions mostly took place between portfolio managers and analysts; traders only got involved later after the portfolio managers and analysts had worked out what to do...

Crypto Startup TrueDigital Hires CEO from World’s Largest Hedge Fund

A blockchain upstart is getting a new CEO from the world’s largest hedge fund.

New York’s trueDigital, which was founded last March, has hired Thomas Kim away from Bridgewater Associates to be its chief executive. Notably, trueDigital is the firm that built a blockchain payments system for Signature Bank. While JPMorgan stole headlines last week for its “JPM Coin,” Signature said its similar Signet system is already processing millions of dollars a day.

Kim told CoinDesk his focus will be on expanding the work done for Signature Bank to other clients....