(Bloomberg) — D.E. Shaw & Co. appointed veteran managing directors Adam Deaton and Anoop Prasad to the executive committee that runs the hedge fund giant.
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Eric Wepsic, 54, a member of the panel who has worked at the firm for three decades, will leave at the end of March, according to an investor letter seen by Bloomberg.
A spokesperson for New York-based D.E. Shaw, which manages $60 billion, confirmed the contents of the letter.
Deaton, 52, who co-leads the systematic futures trading unit, and Prasad, who runs systematic equities, will take their new posts on April 1 and also serve on the risk committee. Each has worked at D.E. Shaw for at least 25 years.
The other members of the executive committee are Eddie Fishman, Max Stone, Anne Dinning, Alexis Halaby and Edwin Jager, who joined the panel at the start of this year, replacing Julius Gaudio.
Founder David E. Shaw created the executive committee about two decades ago to run global investments and operations. Shaw, 72, who mostly focuses on computational biochemistry research, has a personal fortune of about $9.4 billion, according to the Bloomberg Billionaires Index.
D.E. Shaw, founded in 1988, is one of the industry’s largest and oldest quantitative hedge funds and among the first to use complex mathematical models for trading. Its main multistrategy Composite fund gained 9.6% last year. Its Oculus fund, which makes mostly macro bets, returned 7.8%.
Read More: D.E. Shaw’s Biggest Hedge Fund Returned Almost 10% in 2023
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