- Jerome Saragoussi, Schonfeld's top macro researcher, is set to join Bridgewater Associates.
- Saragoussi's exit follows the departure of macro trader Ben Melkman for Bridgewater.
- Schonfeld has been building a macro-trading unit under heads Colin Lancaster and Mitesh Parikh.
Schonfeld's top macro researcher is leaving after less than year to join hedge fund giant Bridgewater Associates.
Jerome Saragoussi, head of macro research and strategy at Schonfeld Strategic Partners, is expected to join Bridgewater in June, according to people familiar with the matter, who weren't authorized to speak publicly about the move.
The move reunites Saragoussi with macro trader Ben Melkman, who recently joined Bridgewater, the industry's largest hedge fund by assets, in a senior role after a brief spell at Schonfeld.
A Schonfeld representative declined to comment. Bridgewater did not immediately respond to requests for comment.
Saragoussi joined Schonfeld in September from Eisler Capital to work with Melkman as a senior strategist. Saragoussi had previously worked as head of research and strategy at Melkman's fund Light Sky Capital, which was shuttered in 2022.
Melkman joined Schonfeld to great fanfare in early 2023 but left in November. Schonfeld cut head count by 15% that month amid lackluster returns and investor pressure. Macro strategies were routed globally early last year, and many funds struggled to produce returns amid sharp bouts of volatility.
Schonfeld in recent years has leaned heavily into building out a macro-trading business under strategy heads Colin Lancaster and Mitesh Parikh. Saragoussi, who was part of a five-person team, had recently been tapped to oversee macro research after his predecessor, Jaime Villa, departed the roughly $10 billion in assets hedge fund, Business Insider previously reported.
The fund, which has made 14 investment hires for its discretionary macro unit since last fall, is searching for Saragoussi's replacement, according to a person familiar with the matter.