Schonfeld's Asia cohead is leaving the $10 billion firm's fast-growing outpost (2024)

2024-05-07T19:05:35Z

Schonfeld's Asia cohead is leaving the $10 billion firm's fast-growing outpost (1)

Eric To is leaving Schonfeld, several people close to the $10 billion firm say.
To joined Schonfeld in 2019, after Schonfeld bought Folger Hill's Asia business.
He was the firm's cohead of APAC and head of APAC fundamental equity.

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One of Schonfeld's fastest-growing units just lost a leader.

Eric To is leaving the $10 billion New York-based multi-manager, people close to the firm told Business Insider. He was the cohead of APAC and head of APAC fundamental equity. Based in Hong Kong, To joined the firm in 2019 from Folger Hill, former Point72 president Sol Kumin's now-closed manager that merged its Asia business with Schonfeld.

Previously, To worked at Balyasny and Point72 predecessor SAC Capital Advisors, according to his LinkedIn. He did not immediately respond to requests for comment on his departure.

A person close to the firm told Business Insider that To's cohead, Chris Antonelli, will take over as the sole head of the Asia business going forward. In the five years To was there, this person noted, Schonfeld's Asia business expanded to Japan and Australia and nearly tripled its head count in the region.

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Schonfeld's undergone plenty of changes over the last year, after nearly merging with industry rival Millennium before ultimately raising billions from institutional investors.

The firm reduced head count by 15% in November, mostly non-investment roles, while building up different investment teams. Since September, the firm has hired more than 40 portfolio managers and analysts, including at least 10 in APAC, according to a person close to the firm.

Schonfeld's Asia cohead is leaving the $10 billion firm's fast-growing outpost (2024)

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