Hedge Funds

Third Point hires operations team


Dan Loeb's $5.7 billion activist shop, Third Point, has hired a new operations team in the wake of the departure last year of its chief operating officer, Jim Kelly, and several other key operations personnel who left to join him at his newly founded fund administration shop, HedgeServe.

"Together, we took a strategic look at our existing organization and identified areas that needed support or strengthening following the group departure of a number of employees late last year to launch a new business venture," Loeb wrote in a May letter to investors.

Bruce Wilson, who had been president and