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Hintze’s CQS Cuts at Least 50 Jobs as Hedge Fund Retrenches

  • The cost cutting drive comes amid falling hedge fund assets
  • Sales and support staff as well as ABS trading team affected
Michael Hintze
Michael HintzePhotographer: Kyle Grillot/Bloomberg
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Hedge fund firm CQS has slashed at least 50 jobs in an overhaul, as billionaire founder Michael Hintze retrenches to focus on core credit trading strategies.

The cuts are mainly concentrated in sales and support areas, but have also affected trading teams focused on asset-backed securities, according to people with knowledge of the matter, who asked not to be identified because the information is private.