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Tiger cub David Goel closes $11 billion firm, citing health issues
David Goel, who worked for hedge fund titan Julian Robertson before launching Matrix Capital Management 25 years ago, is shuttering his $11 billion firm and returning client cash. Goel told clients in a letter that he made the decision to close his hedge fund due to health problems.
Citadel nabs Goldman tech chief in latest poach from Wall Street
Goldman Sachs Group Inc. Chief Technology Officer Atte Lahtiranta is making the now-familiar jump from the Wall Street bank to Citadel, Ken Griffin’s hedge fund. Citadel tapped Lahtiranta to run its core engineering group, with responsibility for the technology underpinning its trading and risk functions.
Toscafund hires Ryan Squillante as head of North America
Toscafund Asset Management has hired a new head of North America, as the predominantly long-only investor looks to capitalize on an expected rise in equity capital markets activity come September. Ryan Squillante was most recently with Irving Investors, and previously held positions at Hutchin Hill and Millennium Management, according to a letter from Toscafund to investors seen by Bloomberg News. The London-based firm also hired two portfolio managers, the letter showed.
Thornburg names heads of equities and fixed income
Thornburg Investment Management announced that Portfolio Manager and Managing Director Matt Burdett has been named Head of Equities and Portfolio Manager and Managing Director Christian Hoffmann has been named Head of Fixed Income, both reporting to CEO Mark Zinkula. They replace Co-Heads of Investments Ben Kirby and Jeff Klingelhofer, who will step down from their portfolio management duties on August 30, 2024, and after a transition period, depart the company on September 30, 2024.
Hedge fund Millennium loses three energy traders and an analyst
Four energy professionals - including two senior natural gas traders - are leaving hedge fund Millennium Management LLC, according to people familiar with the matter. Jeffrey Nietschmann and Dale Gibbard, both senior portfolio managers who specialized in natural gas, along with crude trader Kristen Procinsky are departing the firm, the people said. Tackin Tarighian, a natural gas analyst, is also leaving.
Hedge fund investors are fed up of paying for the industry's talent war
Hedge funds, particularly multistrategy giants, have demanded more fees from their backers. These managers say the cost of running a complex fund is rising because there isn't enough talent. With higher interest rates and muted performance, hedge-fund investors have pushed back.
Want to work at Goldman Sachs? These are the traits it looks for, according to CEO David Solomon
Goldman Sachs hired less than 1% of over 300,000 entry-level job applicants last year. CEO David Solomon emphasized tenacity, grit, and determination as key traits for success. Goldman Sachs values a diverse skill set beyond intelligence, including unique experiences.
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