No. Not those Canadians. So far as we can tell, the Calgary team—a/k/a Brian Hunter—that made the trades that crashed the house of Amaranth has vanished without a trace. The folks we’re talking about this afternoon are the team led by Manos Vourkoutiotis, who has been at Amaranth for six years. Bloomberg reports that his team is going to be based in Toronto, working for Moore Capital.
Now a lot of Amaranth people have already found work at banks and other funds. But Vourkoutitotis is by far the most senior of the Amaranth staff to publicly land a new position. This is a good sign for other senior Amaranth folks, some of whom were reportedly worried that their reputations might be tainted by association with such a large failure.
Hedge fund Moore Capital Management said it will open an office in Canada with a new team of traders hired from Amaranth Advisors, the Greenwich, Connecticut firm that lost $6.6 billion last month on natural-gas trades.
Manos Vourkoutiotis, 37, managed Amaranth's Canadian debt, equity and derivatives portfolios for the last six years. He and his team of former Amaranth employees will be opening Moore Canada in Toronto, where they will trade a range of securities, including equities, convertible bonds and high-yield debt.