Investment pioneer James Simons has withdrawn from his quant hedge fund, Renaissance Technologies LLC.
A few weeks ago, Simons, a former math professor and codebreaker who incorporated the Renaissance into one of the most successful investment firms in history, told clients he would step down as chairman of the company’s board on January 1. Simons, who turns 83 in April, resigned as Chief Executive Officer of the Renaissance in 2010, but continued to lead the board of directors.
“I believe it’s time, and this transition has been going on for years,” said Simons, a board member, in a letter to the client.
The company’s CEO, Peter Brown, has been chaired by the board of directors.
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James Simons resigns as chairman of Renaissance Technologies
Source link James Simons resigns as chairman of Renaissance Technologies