Tudor Investment, the U.S. hedge fund run by iconic Wall Street trader John Paul Jones, has hired Todd Edgar, an executive director at Morgan Stanley, to bolster its commodity trading effort. Edgar was in between posts last week and could not be reached for comment.
Edgar, a veteran metal derivatives trader who previously worked for Bankers Trust and subsequently Deutsche Bank following their merger, will trade both precious and base metal derivatives out of Tudor's Greenwich, Conn., office, say market watchers. A Morgan Stanley spokeswoman confirmed Edgar's departure. Officials at Tudor declined to comment.
Edgar joins former Morgan Stanley commodity trader Andy McMillan, at Tudor. McMillan, Morgan Stanley's senior London-based power trader, joined Tudor last summer to trade energy.
Tudor has some $6 billion in assets under management according to recent press reports. According to one report, 60% of its flagship Tudor BVI Global Fund was invested in macro-economic investment plays, 30% in equities and the remainder in other strategies.
