Two Sigma Taps Nekmouche to Head AI Strategy, Baron Steps Down

Two Sigma Investments LP picked Ali-Milan Nekmouche to head a new artificial intelligence and machine learning team, as the $60 billion hedge fund seeks to tap technology that could supercharge traditional quant investing.

The move comes as company veteran Ken Baron, 57, steps down as “he charts his course towards retirement,” according to a memo seen by Bloomberg. Baron joined Two Sigma in 2008 and has led what’s called techniques forecasting for the past several years, which includes using innovations such as various machine-learning methods, the memo said.

Hedge funds from Bridgewater Associates to Millennium Management have increasingly turned ...