Well, Global Alpha has seen better days. Anyone get the sense that this was a few years too late? Or is that just us?
Goldman Sachs Group Inc. (GS.N) said the heads of its computer-driven investments and Global Alpha, once the bank's largest hedge fund, retired on Tuesday.
Departing were Mark Carhart and Raymond Iwanowski, who helped run Global Alpha and a group that managed quantitative investments. They left the bank along with research co-head Giorgio De Santis, the bank said.
The departures follow two years of disappointing performance at Global Alpha, where assets fell to $2.5 billion last year from a peak of $12 billion in 2007.