Two Sigma announces leadership changes
Two Sigma announced that John Overdeck and David Siegel, Co-Chairmen and Co-Founders of the firm, will step down as Co-Chief Executive Officers and appoint Carter Lyons, Two Sigma’s Chief Business Officer, and Scott Hoffman, former Chief Administrative Officer and General Counsel of Lazard, as Co-Chief Executive Officers, effective September 30, 2024. David and John will step away from their day-to-day management roles, but continue lending their deep quantitative investment and technology expertise as Co-Chairmen to ensure that the company remains at the forefront of financial sciences.
Two Sigma was founded in 2001 by David Siegel, a computer scientist, and John Overdeck, a mathematician, with a focus on bringing technology and data science to investment management. Today, the firm manages around $60 billion in assets and employs approximately 2,000 people globally, two-thirds of whom are in research and development roles.
“Our vision has always been to build a sustainable organization driven by a systematic investment process, a commitment to investing in our people and platform, and an evolution mindset. With their vast experience, complementary expertise, and appreciation for Two Sigma’s unique culture, Carter and Scott will carry this vision forward, guiding the firm to even greater heights. In light of the ongoing advancements in AI, I am more excited than ever about our ability to use our scientific investment philosophy to generate differentiated returns, and I look forward to continuing to be part of this journey for years to come.” – David Siegel, Co-Founder and Co-Chairman.
“Two Sigma remains at the forefront of groundbreaking research, leveraging advanced technologies and techniques, while attracting the brightest minds across mathematics, science, computer science, and many other disciplines. We deeply value the talented individuals who comprise Two Sigma, as they relentlessly push the boundaries of innovation on behalf of our investors. We are very grateful for the trust our investors have placed in us over our first 23 years and have full confidence in Carter, Scott, and our strong and deep leadership bench as they guide the firm forward.” – John Overdeck, Co-Founder and Co-Chairman.
In connection with today’s announcements, Ali-Milan Nekmouche, Chief Investment Officer of Equities, will take on the additional role of Chief Investment Officer for Two Sigma Investments, succeeding John in this role. Geoff Duncombe will continue to serve as Chief Investment Officer for Two Sigma Advisers and Chief Investment Officer of Macro. Carter and Scott, along with Jeff Wecker, the firm’s Chief Technology Officer, and Tim Reynolds, the firm’s Chief Operating Officer, will partner with Ali and Geoff in driving forward the firm’s investment priorities and future growth. These leaders have collectively been responsible for driving cutting-edge research and technology initiatives, enforcing a strong scientific ethos, and embodying Two Sigma’s culture of innovation.
