A JPMorgan trader is joining hedge fund firm Och-Ziff Capital Management Group.
Bloomberg reported that Jeremy Wien, who joined JPMorgan in 2012 to trade options and futures on the VIX, will be responsible for trading equity-index derivatives at New York-based Och-Ziff. The VIX measures the cost of using options as insurance against declines in the S&P 500
Wien’s previous experience includes heading the VIX options trading unit at Peak6 Capital Management and a role at New York-based hedge fund firm Alphabet Management. He is also a competitive poker player, having competed regularly in the World Series of Poker held in Las Vegas. He was named Business Insider’s list of Wall Street’s best poker players in 2012.
Founded in 1994, Och-Ziff has additional offices in London, Hong Kong, Mumbai, Beijing and Dubai. The firm had a profitable 2013 as it increased its assets under management to $40.6 billion from $31.9 billion about a year ago.