Hedge Fund Verition Hires Nomura’s U.S. Trading Boss Who Left After Archegos
(Bloomberg) -- Nomura Holdings Inc.’s top trading executive in the U.S., who stood down from his role in the aftermath of losses linked to Archegos Capital Management, has taken up a senior position at hedge fund Verition Fund Management.
Jonathan Raiff, who was Nomura’s deputy head of global markets until stepping aside in April, will lead fixed income strategies at Verition, according to a statement from co-founder Josh Goldstein. He will oversee strategies for the $4.8 billion Greenwich, Connecticut-based fund including relative-value, rates, currencies and structured products, according to an investor letter seen by Bloomberg.
A host of senior employees have left Nomura or stepped down from their roles since the Tokyo-based bank lost $2.9 billion last year on trades with Archegos, Bill Hwang’s investment firm. Michael Caperonis, who helped oversee equities and credit trading at the Japanese lender before the episode, joined Apollo Global Management Inc. in September. Mehul Shah, head of agency mortgage trading, has also joined Verition while Treasury-trading head Scott Furgal left for Capula Investment Management.
Raiff declined to comment. Simon Danaher, a spokesman for Nomura in London, also didn’t comment.
Read More: Nomura Loses Senior Managers in Aftermath of Archegos Losses
Verition also appointed Fergus Taylor to lead volatility trading and named Marc Talbot as head of institutional strategy, the investor letter said.
Goldstein founded Verition in 2008 with Nicholas Maounis, the former chief investment officer of Amaranth Advisors LLC that had collapsed two years earlier. The firm returned about 9% last year, according to an investor letter, just behind the 10% average gain in hedge funds tracked by Bloomberg. In 2020, the firm posted a 30% gain compared with 9.5% for the industry.
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