Hedge Funds’ Tech Metamorphosis Seen in Citadel’s Microsoft Hire

Silicon Valley watch out. The finance industry is coming after your top managers. Hedge funds are poaching top executives from tech giants to manage their transformation into computer-driven firms full of engineers and mathematicians. Citadel’s hiring of Microsoft Corp.’s Kevin Turner follows big moves in the past year by Two Sigma Investments, which brought on Google Inc.’s Alfred Spector, and Bridgewater Associates, which tapped Apple Inc.’s Jon Rubinstein. These executives are helping banks and hedge funds morph into companies that rely on complex computers, big data analysis and artificial intelligence to get an edge in investing. Doug Haynes, president of Point72 Asset Management, and Lloyd C. Blankfein, head of Goldman Sachs Group Inc., last year described their companies as technology firms. “As the finance world becomes increasingly automated, firms have got…

Link to Full Article: Hedge Funds’ Tech Metamorphosis Seen in Citadel’s Microsoft Hire

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