Schonfeld hired a new macro portfolio manager from Eisler
Schonfeld Strategic Advisors, the multi-strategy hedge fund management firm whose performance has been feeble this year, is still hiring. It is hiring from Eisler Capital.
Jérôme Saragoussi, the former Deutsche Bank rates strategist who went from Deutsche to Light Sky Macro and from Light Sky Macro to Eisler last April, has now moved again.
Saragoussi says he's joining Schonfeld in New York, where he will part of the global macro team run by Colin Lancaster.
Schonfeld's performance has lagged key competitors like Citadel, Millennium and Point72 both this year and in 2022. Business Insider suggested last month that Schonfeld had grown too quickly and said that macro trading at the fund had underperformed compared to other strategies. In an apparent sign that hiring is waning, various recruiters at Schonfeld have left in recent months.
Saragoussi's arrival at Schonfeld may have been negotiated a while ago. Hedge funds typically have long non-notice periods and it's possible that he actually resigned from Eisler around March time.
Saragoussi is the latest in a series of departures from Eisler Capital. Recent exits from the fund include Amir Fais, the Goldman Sachs managing director and head of EMEA emerging markets rates trading who joined and left again in under four months.
While people come and go from Eisler, Schonfeld is all about portfolio manager retention and patience with performance. Ryan Tolkin, Schonfeld's CEO, told Insider 2019 that: "Some of our most successful PMs would have been fired by our competitors because they initially struggled."
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