Renaissance Technologies’ Robert Mercer plans to step down as co-chief executive officer effective Jan. 1, as he tries to distance himself from controversy over his political ties to associates of President Donald Trump.
Peter Brown, 62, will continue as CEO, according to a letter sent to employees at his hedge fund Thursday. Mercer, 71, will also leave Renaissance’s board and remain at the company as a member of the technical staff, focusing on research. Mercer and Brown took the co-CEO posts in 2010 after the company’s founder James Simons retired.
