A credit trader at New York-based hedge fund Hutchin Hill Capital is leaving the firm and has nearly completed the liquidation of his $150 million investment.
In a letter to investors obtained by Bloomberg, Hutchin Hill said that Shahraab Ahmad is planning to retire and is “parting amicably” with the firm.
Ahmad, who has been with Hutchin since the firm’s 2008 inception, and his team of traders have been responsible for selling positions in corporate bonds and credit-default swaps since May. Portfolio manager Mark Meenan will continue to head the division.
Founded by Neil Chriss, Hutchin Hill manages about $1.1 billion in assets.