Tags: robert mercer | stephen bannon | donald trump | kellaynne conway

NYT: Trump Backer Robert Mercer Resigns as CEO of Hedge Fund

NYT: Trump Backer Robert Mercer Resigns as CEO of Hedge Fund
(AP)

By    |   Thursday, 02 November 2017 11:38 AM

Robert Mercer, co-chief executive of hedge-fund firm Renaissance Technologies Llc., is resigning, according to a letter sent Thursday to the firm’s investors.

In the letter, Mr. Mercer said he was stepping down from his post as of Jan. 1, 2018, and would also leave the hedge fund’s board, the New York Times reported.

He said he would remain active on the research side of the hedge-fund firm, which makes trades using complex mathematical equations.

The one-paragraph letter to investors didn't give a reason for his decision. His involvement in conservative politics became a lightning rod for criticism during and after the presidential election.

Mercer provided crucial financial support when Donald Trump’s presidential candidacy was lagging, The Wall Street Journal reported.

Mercer and his daughter Rebekah advised the campaign, suggesting the installation of two Mercer family confidantes, Steve Bannon and Kellyanne Conway, atop the campaign. Bannon this year resigned from his White House post and returned to lead conservative news publisher Breitbart.

Mercer in the letter acknowledged the public scrutiny he has faced since Trump’s election.

Describing himself as a fan of small government, he sought to distance himself from polarizing figures, including Mr. Bannon. “I have great respect for Mr. Bannon, and from time to time I do discuss politics with him,” Mr. Mercer wrote. “However, I make my own decisions with respect to whom I support politically. Those decisions do not always align with Mr. Bannon’s.”

The letter said Peter Brown, Renaissance’s co-CEO, will continue as the firm’s chief executive, according to the WSJ.

“I will provide Peter with my counsel whenever he feels that I can be helpful to him and to the company,” Mercer said in the letter.

© 2019 Newsmax Finance. All rights reserved.

   
1Like our page
2Share
StreetTalk
Robert Mercer, co-chief executive of hedge-fund firm Renaissance Technologies Llc., is resigning, according to a letter sent Thursday to the firm's investors.
robert mercer, stephen bannon, donald trump, kellaynne conway
281
2017-38-02
Thursday, 02 November 2017 11:38 AM
Newsmax Media, Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved