Quant Macro Investing

Risk Taking Disciplined

Renaissance’s Simons Said to Retire From Hedge Fund

Oct. 8 (Bloomberg) — Billionaire James Simons, the founder of hedge fund firm Renaissance Technologies Corp., will retire from his post as chief executive officer, a person familiar with the matter said.

Simons, 71, will stay on as non-executive chairman, according to the person, who asked not to be named because the information is private. Bob Mercerand Peter Brown, the current co-presidents of the East Setauket, New York-based firm, will be co-CEOs of Renaissance as of Jan. 1, 2010, the person said.

Simons earned $2.5 billion last year, according to a survey published in Alpha magazine. He was chairman of Stony Brook University’s mathematics department before starting Renaissance in 1982.

Simons will remain the firm’s main shareholder and has no plans to reduce his investment in the firm, the person said.

October 8, 2009 - Posted by | Uncategorized

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