Two Goldman Sachs partners who helped lead the so-called quantitative investment movement on Wall Street have left the firm following large losses at their marquee fund, known as Global Alpha, according to a report in the Financial Times.
Two Goldman Sachs partners who helped lead the so-called quantitative investment movement on Wall Street have left the firm following large losses at their marquee fund, known as Global Alpha, according to a report in the Financial Times.
Goldman told clients on Tuesday that Mark Carhart and Ray Iwanowski, managing directors and co-heads of its quantitative investment strategy team, had left the bank along with another member of their team, Giorgio De Santis.
Until the summer of 2007, when the US subprime credit crisis wreaked havoc with global markets, the two men were known for their success in employing quantitative investment strategies, which rely on complex algorithms to dictate buying and selling decisions.
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