Hedge Funds

Citigroup spinout hires risk specialist from SAC


Claren Road Asset Management, the new global credit firm formed by three former Cititgroup proprietary traders, has named as it chief operating officer a risk management specialist from SAC Capital Advisors.

Founding partners John Eckerson, Sean Fahey and Brian Riano, who is the new group's chief investment officer, plan to begin trading their first global credit hedge fund in January.

In advance of the launch, the New York-based shop this week brought on board Kenneth Weiller, who had been with Steven Cohen's SAC Capital since 1998. Weiller had most recently been a director there, overseeing trading administration for repos,