Two Sigma Investments disclosed that a years-long dispute between its billionaire co-founders is continuing to pose material risks to clients and affect its ability to keep staffers from leaving, with a 12-year veteran of the $60 billion hedge fund set to depart.
Co-founders John Overdeck and David Siegel still disagree on the authorities, responsibilities and compensation for their own roles as well as a range of senior executives, including chief investment officers, the firm said in an updated regulatory filing Friday. Their rift also extends to how teams are structured, corporate governance and oversight matters, and succession planning.
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