CTO of the nicest hedge fund takes an executive role at Schonfeld

Alphadyne Capital Management, founded by ex-Goldman Sachs partner Philippe Khuong-Huu, is known for having good culture, management, and being an all-round nice place to work. One of the executives driving that culture has just left, however, to become chief technology officer of a major multistrategy hedge fund that’s had a few issues.

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Thomas DeBow has joined Schonfeld as CTO, having held the same role at Alphadyne for the past six years. His longest stint in one role was at Graham Capital Management, where he was CTO for 14 years.

DeBow joins Schonfeld at an interesting time. Its fundamental equity fund and its strategic partners fund are up 5.9% and 6.2% this year through to March after less impressive returns in 2023. The current concern, as Bloomberg reports, is that the fund has still yet to raise the $3bn it’s been looking for since last year to set up a drawdown fund. 

DeBow arrives after Schonfeld’s 15% workforce cuts late last year when partnership talks with Millennium fell through. The 150 departures were predominantly in non-investment roles, which means many were likely technologists. Considering some senior figures at Schonfeld look pretty negatively on the fund’s technology, DeBow may find his niceness tested as he looks to turn things around.

In spite of the cuts, Schonfeld bizarrely boosted its headcount to 952 last year from 856 the year before, but it doesn’t look like too much of that growth is in technology. At present, Schonfeld just one opening in its ‘technology’ team… a business analyst in product management. 😕

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