Hedge Funds

Out goes the risk man


Ex-Millennium Partners principal, Neal Berger, has made some big changes at Aquila Capital Management. He recently fired the group's risk manager and appointed staffer Michael Lubin as the risk chief. Lubin, a trading veteran with 20 years of experience who had served on the U.S. Math Olympic team, will hold the interim post until a permanent replacement is named later this summer.

Berger didn't elaborate on what led to the risk-management shake-up. The firm's multi-strategy arbitrage fund was flat for the month of April.

Other changes include two new additions. Kaushik Das and Peter Kashnin have been brought on board