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Walleye Capital Parts Ways With Former Stock Picking Head Anil Gondi
Business Insider • • business
Key Points:
- Walleye Capital, after a 5.9% loss in October, has cut its head of equity long-short, Anil Gondi, as part of a broader restructuring of its internal equity long/short business.
- CEO and CIO Will England stated the firm is simplifying its long/short operations, including parting ways with much of the leadership and investment teams, due to underperformance and high resource costs.
- This marks the second major departure in Walleye's stock-picking unit this year, following COO Matt Giannini's exit in September to Citadel.
- Despite these changes, Walleye plans to continue stock trading, with internal teams now reporting directly to England, while also increasing investment in externally managed stock-picking funds.
- The firm recently hired Anna Dev to source external opportunities and is investing in funds run by former Citadel traders amid a challenging environment for hedge funds and equity-heavy managers in October.
