Ex-Harvard Star Meyer Is Said to Cut Jobs as Firm Bleeds Assets
- Convexity axed 15 positions in second layoff round in a year
- Hedge-fund firm’s assets are down 80% from $15 billion peak
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Jack Meyer, the investor who built a multibillion-dollar hedge fund firm after more than quadrupling Harvard University’s endowment, cut his workforce this year as assets declined, according to a person with knowledge of the matter.
Convexity Capital Management eliminated 15 information-technology positions in the first half after dismissing 10 back-office staffers in 2016, said the person, who asked not to be identified because the matter is private. The company now has 67 employees.