Andrew Barnard, head of U.S. convertible arbitrage trading at Goldman Sachs in New York, has left his position to join hedge fund JD Capital Management, in Greenwich, Conn., according to the fund's founder David Rogers. Barnard, who worked under Rogers during part of his nine-year stint at Goldman, started at the hedge fund two weeks ago and will be working to develop its convertible arbitrage group. Barnard will have direct oversight of the group. Rogers, a former Goldman Sachs equity derivatives head, started putting together the hedge fund in June and has scheduled for a February launch. He is hoping to raise USD350-400 million for the multi-strategy fund, which will incorporate relative value and arbitrage strategies (DW, 11/19).
Rogers added that he is looking to hire a staff of about 22, most of whom will be traders and researchers. While at Goldman, Barnard reported to Michael Price, global head of convertibles in New York. Price did not return calls.
