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Emerging Layoffs In Emerging Markets

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Our favorite midwestern hedge fund (top 25) has closed its Emerging Markets group. We're told that, among other things, like the matter of misplacing more than half its clients' money in the flagship, one of the factors that went into the decision was a matter of redundancy. Apparently higher ups in Chicago deemed it just plain silly to keep the unit going in light of the fact that Kaveh Alamuti, head of the global macro biz, also trades some EMs in his spare time. Still, tears have been shed for the 8 employees who comprised the little group that could, and we pray to god the rumor circulating about Griffin's plans to get rid of the distressed debt team, because it turns out the lady who waters the plants on Wednesdays has it covered, is bull shit.