New York (HedgeCo.net) – AR Magazine reports that J.P. Morgan’s hedge fund, Highbridge Capital Management, has laid off three senior execs, including two portfolio managers, as its long/short fund continues to struggle.
The dismissals were confirmed by two people familiar with the firm who preferred to remain anonymous, AR said.
With its $1.8 billion long/short equity fund down 12.6% this year, $26.1 billion Highbridge has let go of three senior executives and at least three analysts and traders in its New York and Hong Kong offices.
In New York, Highbridge let go portfolio manager Jennifer Failla, who covered the retail sector for the long/short fund and previously worked for Bear Stearns; Chris Storey, an analyst covering financials, and Don Kuzoian, an analyst covering technology. They had reported to longtime Highbridge equities chief Alec McAree. Failla’s positions were quickly liquidated when she left last week.
Layoffs were not contained to New York. In Hong Kong, the firm dismissed portfolio manager Toby Bartlett, who covered the Asian consumer industry, as well as trader Kenson Lau, AR reported.
Alex Akesson
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