The head of D.E. Shaw’s energy trading strategy is retiring after 12 years at the firm following one of the energy funds’ huge loss in 2013.
The Wall Street Journal reported that Jeff Myers, who is in charge of developing D.E. Shaw’s investment views on energy markets, announced his departure last month and will remain with the firm until the end of Match to assist with the transition. The firm lost 28% in its Plasma fund last year, including an 18% drop in December.
Myers’ plans after departure were not disclosed. He will be replaced by subordinates Sanjay Jacob and Travis West, who will both be responsible for managing the unit’s 12-person team.
New York-based D.E. Shaw, which focuses on quantitative investments, managed approximately $32 billion in assets as of December 2013.