Billionaire and Founder of Hedge Fund Renaissance Technologies James Simons Retires as Chairman
15th January 2021 | Hong Kong
Billionaire and founder of one of the world’s largest hedge fund Renaissance Technologies James Simons, has retired as Chairman of Renaissance Technologies on the 1st of January 2021 at the age of 82. James Simons co-founded Renaissance Technologies, which is one of the largest hedge fund in the world managing around $70 billion of AUM (Assets under Management) and is best known for its legendary “Medallion Fund” and pioneering quantitative trading in the hedge fund industry.
” James Simons Retires as Chairman of Renaissance Technologies “
James Simons, Math Professor Turns Hedge Fund Manager
James Simons, former math professor, co-founded Renaissance Technologies 38 years ago in 1982 and pioneered quantitative trading in the hedge funds industry. The flagship fund of Renaissance Technologies is the legendary “Medallion Fund”, which returned around 39% a year for 30 years. In 2020, with the Covid-19 pandemic, the fund lost more than 30%. James Simons had retired in 2010 from Renaissance but stayed on as Chairman.
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James Simons is a billionaire and is one of the wealthiest man in the world with a net worth of around $23 billion.
Renaissance Technologies New Chairman Peter Brown
Renaissance Technologies is a quantitative investment management company trading in global financial markets, dedicated to producing exceptional returns for its investors by strictly adhering to mathematical and statistical methods. Chief Executive Officer Peter Brown has been appointed the new chairman of Renaissance Technologies.