Reuters reports that Soros Fund Management, the investment company of billionaire George Soros, has laid off a handful of analysts and portfolio managers in recent months.
The moves came after the New York-based fund hired a new chief investment officer, Scott Bessent, in September, and after it closed its doors to outsiders in July by reorganizing into a so-called family office to exclusively oversee the Soros family's personal fortune.
Still, the fund continues to rank as one of the world's biggest and most powerful investors with some $25 billion in assets and some 300 employees putting that money to work.
The people who were laid off analyzed stocks, said three people who are familiar with the moves but are not authorized to speak about them publicly.
Soros, who made investment history by earning $1 billion with a bet against the British pound two decades ago, is best known as a global-marcro investor, making bets on interest rates, currencies and commodities. He also owns hundreds of stocks. A spokesman for Soros called the layoffs part of the normal course of business and gave no details.
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http://www.reuters.com/article/2011/12/16/us-hedgefunds-soros-idUSTRE7BF1MV20111216
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