Finance
Two Sigma Founders Head to Arbitration After Years-Long Feud
- Compliance chief Otto, Co-General Counsel Shih have left firm
- Founders Overdeck and Siegel stepped down as co-CEOs last year
David Siegel and John Overdeck.
Photographer: Jeenah Moon/Bloomberg, Thos Robinson/Getty ImagesThis article is for subscribers only.
Two Sigma Investments’ billionaire founders, John Overdeck and David Siegel, are heading to arbitration after a longstanding feud over the direction of the quant hedge fund.
Two Sigma, which manages more than $60 billion, disclosed the arbitration and a pair of executive departures in a letter to investors Wednesday. The firm said in the letter that it isn’t a party to the dispute and doesn’t intend to share regular updates about it with clients, according to people familiar with the matter.