Taconic Capital Advisors co-founder Ken Brody announced to investors Tuesday that he is retiring from the firm.
Brody said in letter that despite the retirement, which is effective January 1, he will “remain a principal, a significant investor, and an advisor to the firm.” He plans to spend more time working with non-profit organizations after his departure.
Brody, who founded Taconic Capital in 1999 with Frank Brosens, explained in the letter that the pair has been planning for the transition “over a considerable period of time,” by expanding its investment ream capabilities in London and New York over the past few years, as well as the opening of a Hong Kong office.
Brosens and Taconic chief investment officer Chris Delong will continue to lead the firm.
Based in New York, Taconic managed about $6.7 billion by the end of last year.