Hedge Fund Two Sigma Hires Hitchon to Be Chief Operating Officer

(Bloomberg) — Jon Hitchon, the former co-head of hedge fund financing at Deutsche Bank AG, will join Two Sigma as chief operating officer starting Oct. 1.

Hitchon will work out of the New York headquarters of the $21 billion hedge-fund firm, Perrin Wheeler, a Two Sigma spokeswoman, said in an e-mailed statement. Hitchon spent 15 years at Deutsche Bank before leaving last year. Most recently, he worked with Barry Bausano to manage the firms Markets Prime Finance unit, the Frankfurt-based lender said at the time. He also headed the banks move to unite its derivatives trading and processing services for listed and over-the-counter contracts as U.S. and European regulations re-made those markets.

Hitchon will be invaluable as we look to efficiently grow our business and continue to deliver value for our clients, Wheeler said in the statement.

Two Sigma was started in 2001 by David Siegel, a former chief technology officer at Tudor Investment Corp., and John Overdeck, a former managing director at D.E. Shaw & Co. The firm uses mathematical models to decide when to buy and sell securities, derivatives and other investments.