Evercore MD departs for new role at Two Sigma
A managing director at Evercore with a background in M&A has left the boutique investment bank to join quant fund Two Sigma. Vignesh Rajendran started in New York in January as an MD.
While the hedge fund and Rajendran didn’t respond to requests for comment, it’s possible that the hire could be meant to help build up Two Sigma’s venture capital business, considering Rajendran’s background. That said, the head of talent development at Point72 Asset Management recently argued in an op-ed that hedge funds can be a fine landing spot for former M&A bankers – even better than private equity.
Two Sigma is one of the few big-name hedge funds to have enjoyed a successful 2018. While many firms suffered double-digit losses, Two Sigma’s Absolute Return fund returned 11% while its macro fund was up 14%, according to the FT. Meanwhile, rival quant fund AQR Capital Management acknowledged last week that it will be cutting jobs following a dismal 2018.
Two Sigma has shown it isn’t afraid to make hires with interesting backgrounds. Late last year, the firm’s venture arm appointed a Harvard neuroscientist as a chief of staff.
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