STAMFORD, Conn. (HedgeWorld.com)–As part of a push to expand its use of quantitative strategies, SAC Capital Advisors LLP tapped Neil Chriss, president of ICor, an electronic brokerage business.
He will head the quantitative strategies effort at SAC and might hire additional people with this orientation. The hedge fund firm, which has more than US$3.7 billion under management and specializes in long/short equity, closed some of its funds to outside investment some time ago. But it could be increasing assets managed with strategies such as statistical arbitrage.
Mr. Chriss co-founded ICor in January 2000 to develop an electronic brokerage system for OTC derivatives, starting with the foreign exchange market. Before that he was a vice president and investment manager at Goldman Sachs, where he was responsible for a portfolio of derivative securities.