Steve McDonald, a director in Bank of Nova Scotia’s treasury group, is leaving the Toronto-based bank to take up a new role as a director in the portfolio risk group at multi-strategy hedge fund Polar Asset Management Partners, according to a report by Bloomberg.
The report cites unnamed sources familiar with the matter as confirming that McDonald will focus on the risk management needs associated with the development of the firm’s global rates investment team.
McDonald is joining Polar just weeks after the hedge fund tapped another bank for a new recruit, Bank of Montreal’s Jean-Francois Leclerc, a specialist in structuring credit-risk transfer transactions.
Toronto-based Polar offers a range of investment strategies including convertible arbitrage, fixed income arbitrage, structured product arbitrage, equity long/short, and event driven that can be accessed through commingled funds, and customised portfolios.
