Hedge fund DE Shaw hired a JPMorgan MD for an obscure new job
As multistrategy hedge funds go, DE Shaw tends to fly beneath the radar. Despite having more than $60bn in assets under management and employing more than 650 developers and engineers alongside its investment staff, DE Shaw attracts less publicity than rivals like Citadel and Millennium. This allows it to hire discretely, including managing directors from JPMorgan.
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Christopher Rold, a JPMorgan managing director who spent the last 15 years working for JPMorgan on both credit and equity linked products, has just joined DE Shaw in New York City. He will be the hedge fund's 'head of capital markets solutions.'
What does this entail? DE Shaw isn't saying, but we understand that Rold will be engaged with such obscure things as holistic counterparty engagement and markets based opportunities. If anyone knows what this means, please let us know in the comments below.
Rold appears to be the only person in his new team, but will be working with people across DE Shaw. The fund runs systematic, hybrid and discretionary strategies, and its hybrid team includes equity linked investments like convertibles and derivative products.
DE Shaw has been pushing into new areas this year like balance sheet optimization for financial services firms. This includes purchasing synthetic risk transfers, or credit linked notes that transfer risks to the buyer in return for a coupon payment, but keep the assets on the bank's balance sheet.
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