Amaranth Reportedly Hunts For Vol Traders

Amaranth Securities, a USD8 billion hedge fund based in Greenwich, Conn., has reportedly been shopping for a volatility trader.

  • 15 Sep 2006
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Amaranth Securities, a USD8 billion hedge fund based in Greenwich, Conn., has reportedly been shopping for a volatility trader. Its equity volatility book was substantially liquidated earlier this year (DW, 7/28). Reasons for unwinding the book could not be determined, but it was thought to have been in response to the departures of two senior traders, MiaoDan Wu and Todor Delev.

One hedge fund trader familiar with the Amaranth setup said the fund may be training someone internally to manage the remainder of the volatility book, but it is also looking to bring on board a senior volatility trader to rebuild the portfolio. Several headhunting officials said they are aware the fund is looking to hire, although they declined comment on whether they had been contacted directly by the fund. Ann Taylor Reed, spokeswoman for Amaranth at Abernathy MacGregor, did not respond to a message by press time.

  • 15 Sep 2006

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