Hedge Funds

Elm Ridge restaffs following relocation


Demonstrating some of the difficulties that can ensue when a hedge fund decamps to a new city, Elm Ridge Capital Management has had to replace some key employees who have resigned since founder Ron Guttfleish moved the firm to suburban Irvington, N.Y., from New York City earlier this year.

In mid-October, Citigroup Asset Management alumnus Lee Anderson joined Elm Ridge as a trader and portfolio manager. Anderson will work alongside Bob Nemeth, a trader who came over from Levin & Co. a few months ago. Also new at the firm is analyst Bob Buettner, who previously worked at