Macro hedge fund Caxton Associates added nine people in London last year. Now it seems to be going in the opposite direction.
Headhunters say Greg Knight, the former head of leveraged FX finance at Deutsche Bank who joined Caxton in 2012, has just left. A high experienced spot trader, Knight spent 13 years at Deutsche before joining Caxton three years ago.
Both the reason for Knight’s exit and his next destination are unclear. Caxton didn’t immediately respond to a request to comment.
Knight’s exit reportedly follows that of Josh Berkowitz, another star Caxton trader who formerly worked for George Soros and joined in 2014.
Caxton made £95.7m in profits last year and paid 10 of its partners an average of £3.75m each.
More recently, however, Caxton hasn’t been doing so well. The $7bn fund fell by nearly 7% between the start of the year and May 2nd. Andrew Law, Caxton’s chief executive, made a £250k donation in support of Theresa May’s Brexit plans in May.
Amidst the departures, Caxton continues to hire. In May, it added Stuart McQuaid, a seasoned fund manager who previously worked for Horizon Asset Management Europe, and shuttered U.S. hedge fund Perry Capital.