Caxton quant to join Citi hedge fund

Tanya Beder, head of quant trading at hedge fund Caxton in New York, is to leave the company to join Tribeca Investments, another hedge fund and part of Citigroup Alternative Investments, as chief executive officer.

Beder joined Caxton in 1999 from Capital Market Risk Advisors, where she was president. She also served as chairman of the board of the International Association of Financial Engineers between 1987 and 2003, and currently serves as the US chair of the Investor Risk Committee.

Tribeca is a convertible arbitrage trading hedge fund, and Beder joins with $2 billion in proprietary capital to invest. She said she intends to grow this into a $10 billion multi-strategy hedge fund platform for institutional investors.

She starts her new role on May 17, and will remain in New York.