(Bloomberg) — Two Sigma Investments LLC, the $21 billion hedge-fund firm, said Dave Weisberger, who helped build its securities unit, is leaving after five years.
Weisberger plans to pursue outside opportunities, the New York-based firm said in an e-mailed statement today. He has been instrumental in building Two Sigma Securities into a leader in the wholesale market making space.
Two Sigma in 2009 started its securities unit, a market maker for more than 8,000 securities, according to its website. Market-making involves stepping in as a buyer or seller of securities to ensure trades get done when needed.
Two Sigma, which uses complex mathematical models to decide when to buy and sell securities, hired Citigroup Inc.s head of equity derivatives, Simon Yates, as chief of its securities business, a person with knowledge of the matter said in July. He started this month.
Weisberger, when reached by phone, declined to detail his plans.
Two Sigma was founded in 2001 by David Siegel, a former chief technology officer at Tudor Investment Corp., and John Overdeck, a former managing director at D.E. Shaw & Co.
