Home Hedge Funds Two Long-Time Walleye Capital Execs Are Retiring

Two Long-Time Walleye Capital Execs Are Retiring


  • Two long-time senior executives at Walleye Capital, Andrew Carney and Mark Zeldis, are retiring.
  • The hedge fund’s C-suite has undergone a revamp in recent months.
  • Walleye’s overall headcount is up, with about 60 new hires in 2024.

Two Walleye Capital partners who have been at the firm since the George W. Bush administration are retiring, the latest in a string of senior leadership changes at the multi-strategy hedge fund.

In an update to investors on Wednesday, Walleye announced that Andrew Carney, CIO of volatility, and Mark Zeldis, chief technology officer, are retiring from the firm, according to a person familiar with the matter. They’ll stay on during a transition period, the person said.

Zeldis and Carney have been with Walleye since its earliest days as a Minnesota-based options market-making shop. They were each promoted to partner in 2015.

Walleye, now headquartered in New York, started managing outside money in 2017 and has morphed into a full-fledged multi-manager hedge fund, with $5.7 billion in capital put to work across a variety of trading strategies.

The retirements are the latest changes at Walleye amid an overhaul that began last fall. The fund has brought in new heads of treasury and compliance as well as a new chief people officer. This March it cut a dozen people, including its head of EMEA and its head of global macro and fixed income.

Overall though, headcount is on the rise. Walleye has brought aboard roughly 60 people in 2024, boosting its staff to 350 spread across 10 offices, including outposts in London and Dubai.

Amid a difficult 2023 generally for multi-manager hedge funds, Walleye returned just 3.9%. It’s toward the top of the pack so far in 2024, returning 5.9% in the first quarter.

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