In October 2024, the hedge fund industry saw a series of significant transitions as notable figures moved among prominent firms. These changes highlight the industry’s fast pace, with companies adjusting their teams to tackle market challenges and explore new opportunities.
Drew Gillanders, Citadel’s Head of International Equities in Europe, highlighted the supportive environment Citadel provides its portfolio managers, emphasizing the firm’s long-term approach, which relies on risk-based guidelines instead of strict performance targets.
Eisler Capital: Around ten portfolio managers, including Mark Mallon, Leo Niemelainen, Matt Haigh, Will Bartlett, Hardeep Jhutti, and Bernd Kuhlenschmidt, exited recently amid Eisler’s shift to a multistrategy approach
In another noteworthy shift, Raj Kedia, Head of Systematic Trading Technology at Point72, left to rejoin JPMorgan as Managing Director and Global Head of Macro Technology. Kedia’s return to JPMorgan highlights the continued demand for systematic trading expertise among major banking and investment firms, reflecting a sector-wide trend toward advanced trading solutions.
ExodusPoint attracted attention by appointing Andrew Liebeskind, a respected block trader, as Global Head of Equity Capital Markets. Formerly with LMR Partners, Liebeskind is expected to begin his role in February 2025, strengthening ExodusPoint’s equity capital strategies and enhancing its market positioning.
Meanwhile, Walleye Capital also saw changes, dismissing eight portfolio managers, including Global Macro Head Anuraj Dua and traders Robert Toffel, Julien Prado, Eric Couffignals, Jessica Vanquin, and Nikolaos Stathopoulos. The firm brought in Matt Giannini (formerly of Citadel) to lead long-short equities, alongside portfolio managers Bryan Wren (industrials) and Brian Czenszak (consumer companies).
Jain Global, founded by Bobby Jain, continued its expansion by hiring Michael Guglielmo from Renaissance Technologies as a trader for its systematic business in New York. Additionally, Ben Woods, previously a trader at Trailstone Group, joined Jain Global’s London office as a senior analyst.
Ref: FNLondon. (2024, October). Citadel’s Drew Gillanders: Fund managers shouldn’t worry about being fired for losing 5%. Financial Times. (2024, October). ExodusPoint hires block trader Andrew Liebeskind as global head of equity capital markets. Yahoo Finance. (2024, October 24). Walleye cuts five traders, including Anuraj Dua. Financial News London. (2024, October 25). Jain Global hires Renaissance Technologies' Michael Guglielmo. Financial News London. (2024, October 18). Point72's Head of Systematic Trading Technology Raj Kedia re-joins JPMorgan.
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