Ever since the hedge fund acquired GLG, the Man Group has faced scrutiny over rumours of feared weakened management and departures.Perhaps because the GLG acquisition wasn’t viewed positively, or maybe for other reasons, there is now evidence that the rumours were (at least in part) right.
According to Financial News, eight quants just left the fund.
Chetan Kotwal, who was an algorithmic trading systems analyst at AHL, joined Barclays Capital.
Dr Helder Palaro, an academic who pioneered a hedge fund replication method with Dr Harry Kat, also left. Along with: Yochen Maydt and Steven Piron who worked in research, Tom Ryan and Rebecca Aston, both traders; Will England, an analyst; and Tobias Brandt, an algorithmic trading systems developer.
Worth noting: a Man Group spokesman told Financial News that the departures are just natural.
“It is natural to a see a few people moving jobs after bonus time. AHL continues to expand its team and has recently made a number of exciting new hires.”