A managing director in Goldman Sachs’ electronic trading group has left the bank to join a New York hedge fund as a quant consultant.
Charles Reyl, who was a managing director in Goldman Sachs’ equities electronic trading unit, has just joined hedge fund Select Equity Group in New York as a quant consultant. Reyl was responsible for the business development of Goldman’s Marquee Trader execution services tool for its equities business and a key driver of expansion within its execution analytics platform.He worked at Goldman Sachs for two years, joining as a managing director in November 2014. Before this, he was the founder and CEO of Parity Energy, a firm which developed and electronic trading platform for over the counter derivatives in the commodities sector.
Reyl left investment banking in 2001, after spending four years at Credit Suisse where he was a vice president in its global modelling and analytics group. He joined Kiodex, an division of tech vendor Sunguard, where he worked as chief product officer. He started Parity Energy in 2006 and stayed until he joined Goldman Sachs two years’ ago.
Select Equity Group is a long-only and long-short equity hedge fund with $18bn in assets under management. It says that it was founded under the premise that “rigorous fundamental research and disciplined investing will generate superior investment returns”.
Goldman Sachs has been building its electronic trading business in the past few months, with a particular focus on equities. Most recently, it hired John Cosenza, who was previously head of electronic trading at Cowen Group, in September.