Several senior staff in $13bn multi-strategy hedge fund firm Schonfeld’s technology and recruitment teams have recently left the business even as the company continues on a big recruitment drive that started earlier this year, according to a report by Business Insider.
Several senior staff in $13bn multi-strategy hedge fund firm Schonfeld’s technology and recruitment teams have recently left the business even as the company continues on a big recruitment drive that started earlier this year, according to a report by Business Insider.
The report cites unnamed sources with knowledge of the matter as confirming that the departures include global head of infrastructure Vincent Aniello, a six-year Schonfeld veteran, and Steve Kordik, who headed up a team in North America responsible for supporting the firm’s trading technology platform.
On the recruitment side of the business, Renee Kenas, head of infrastructure talent acquisition, and Radhika Arora, who joined the firm in 2019 and was promoted to head of enterprise technology talent acquisition earlier this year, have also left Schonfeld, along with Tom Burdo, director of front-office technology talent acquisition.
According to a filing with the Securities and Exchange Commission, Schonfeld grew from some 600 employees in mid-2021 to around 860 at the end of 2022, and its headcount now exceeds 950, according to LinkedIn.
Despite the hiring spree, Schonfeld has lagged its multi-strategy rivals in both 2022 and so far this year. While the likes of Citadel, Millennium and Point72 notched double-digit returns last year, Schonfeld returned 4.5%, and in H1 2023, the fund’s flagship fund, which manages around $9 billion, was down slightly, while its fundamental equities unit was flat.
