Hedge Funds

SAC subsidiary woos JP Morgan exec

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Canvas Capital Management, L.P., an affiliate of Steve Cohen's S.A.C. Capital Advisors, has hired Michael Siminoff as a managing director. Siminoff will be responsible for building out Canvas's business, including recruiting and managing investment team members. 

Siminoff joins the San Francisco-based Canvas after eight years with JPMorgan, where he served as a vice president in the equities division and lead relationship manager for several of the firm's hedge fund clients. He spent the past year as a senior member of JPMorgan's west coast operation.

Canvas Capital follows the same multi-strategy investment approach as its parent S.A.C., which launched Canvas earlier