March 5 (Bloomberg) -- Hess Energy Trading Co. hired Marcos Lopez de Prado, former head of global quantitative research at hedge fund Tudor Investment Corp.
Lopez de Prado, 38, joined Hetco on March 1 as head of quantitative trading and research, Stephen Semlitz, a managing director at New York-based Hetco, said in a telephone interview today. Patrick Clifford, a spokesman for Tudor, declined to comment on the departure.
Lopez de Prado last week left Tudor, according to a person with knowledge of the matter, who asked not to be named because the information isn’t public. He had worked at the Greenwich, Connecticut-based hedge fund, which oversees $12.1 billion, since June 2008, the person said. Lopez de Prado said he couldn’t comment on his move.
Hetco, which trades oil, refined products and natural gas, was formed in 1997 by Hess Corp. and two former Goldman Sachs Group Inc. traders. New York-based Hess said yesterday it will divest its stake in the trading firm as part of a streamlining plan to focus on exploration and production.
Lopez de Prado is at least the 10th person to leave Tudor since December. He focused on quantitative execution algorithms, or trading strategies that carry out orders, and will continue to work with Tudor on certain initiatives, according to the person briefed on the situation. He also helped lead risk management related to the firm’s high-frequency trading, and previously worked at Peak6 Investments LP, UBS AG and Citadel LLC.
Lopez de Prado has a doctorate in financial economics from Madrid’s Complutense University and was admitted to American Mensa with a perfect test score, according to his LinkedIn biography.
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