Double Alpha Group announced it has hired former Palladin Group managing director Robert Chender as president, a role currently held by Charles Zaffuto, who is also Palladin's CEO. Zaffuto will remain on as CEO and will focus more on risk management and bringing in revenues, while Chender will focus on operations. Chender has also worked at Ramius and Republic Asset Management Corporation.
Zaffuto founded the firm in 1994 with Paul Saboda, a veteran Morgan Stanley pairs trader. Headquartered in New York, Double Alpha manages about $170 million of assets across four statistical arbitrage models. The firm recently began