RenTech Founder Urged Bob Mercer to Step Down to Improve Company Morale

[Lucky Luciano]

Source: Bloomberg

Jim Simons, the founder of Renaissance Technologies, urged Robert Mercer to step down from his role as co-chief executive officer over concerns that his backing of Breitbart News was hurting morale at the world’s most profitable hedge fund, according to people familiar with the matter.

In recent months, Mercer’s personal political projects dragged the secretive firm into the national spotlight. Mercer and his daughter, Rebekah, are prominent Republican donors and patrons of Stephen Bannon, chairman of Breitbart News, a website that backs the nationalist movement that helped elect President Donald Trump.

Simons, who is a major donor to Democratic causes, negotiated Mercer’s move from top executive to researcher at the computer-driven firm over the past three months, one of the people said. Mercer’s role will change on Jan. 1.


"I appreciated Bob’s willingness to take this step," Simons said Monday night while attending a fundraiser for the New York Public Library. Mercer had become a lightning rod for activists. One group had begun targeting Renaissance Technologies’ investors to encourage them to fire the money manager.
Simons was less concerned about an investor revolt than he was about employee morale and recruitment, according to one of the people. The firm received a net $1 billion in inflows this month.

Read more: https://www.bloomberg.com/news/articles/2017-11-07/rentech-s-jim-simons-urged-mercer-to-step-back-to-improve-morale

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Just as I thought. Simons grew to be fed up with Mercer's bullshit hurting the firm. Simons is still the boss.

[lagomorph777]

1. So FrightFart is so toxic that Mercer's funding of it

made his employees hate him?

[Lucky Luciano]

5. Yes. Look up David Magerman.

Magerman lost his job fighting Mercer internally. Don't worry for Magerman too much - he is extremely wealthy too.

[Sneederbunk]

2. Perhaps he could leave the country to improve US morale.

[BumRushDaShow]

3. Interesting

although I wish that had been done before last year's election. Corking the bottle after the evil genie gets out.

[Lucky Luciano]

4. Yeah...Simons was probably just as surprised as we were when orangefuck won the election.

For that matter, Mercer was probably also surprised.

[BumRushDaShow]

6. Well surprised or not, they found a winning formula.

[not fooled]

7. Yeah

Finding out your co-CEO is a loony-tunes nutjob responsible for installing an unqualified boob in the White House, working to wreck the country, and turning the U.S. into an international laughingstock--not good for morale.

[BigmanPigman]

8. "Low morale"...doubt it.

Most likely "intense hatred" for the bastard who gave us the Fucking Moron who is destroying the country.

[Lucky Luciano]

9. Yup. The employees at Renaissance are among the world's most elite scientists.

Such people usually hate right wingers. I was very disappointed when I found out about Mercer five years back or so. Simons I respect tremendously.