The head of cybersecurity at hedge fund Schonfeld has gone
Marc Helfman, the head of cybersecurity at hedge fund Schonfeld, has left the firm after eight years. It's thought that he resigned.
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Schonfeld declined to comment on Helfman's exit. Based in Miami, he joined the fund in 2016 and spent his time there managing over 20 cybersecurity platforms and initiating a cybersecurity intern program. It's not clear what he's doing next. Nor is it clear who's replacing him.
Schonfeld had a not so good 2023 after discussing a partnership with Millennium and then pulling out. It subsequently emerged that Millennium wanted Schonfeld to manage its own clients' cash exclusively. Instead, Schonfeld secured a verbal commitment to raise $3bn of its own. In the wake of all the upheaval, however, Schonfeld has become one of this year's highest performing hedge funds, returning 10.3% in the first half.
Schonfeld insiders suggested last year that the fund had a few issues with its technology. Its former CTO, David Neigler, left in April 2024 and is now describing himself as a "generative technology leader." A new CTO, Thomas DeBow, joined from Alphadyne in April.
Sources at Schonfeld say the fund is busy leveraging AI in unusual ways, including asking employees to interrogate AI systems to learn more about their roles.
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