Troubled Hedge Fund Two Sigma Replaces Feuding Founders

Two Sigma, a major hedge fund, announced that its co-founders, John Overdeck and David Siegel, are stepping down as co-chief executives. The firm has been dealing with an ongoing feud between the two co-founders, which has affected the company’s outlook. Two Sigma also revealed the appointment of new co-chief executives, Carter Lyons and Scott Hoffman. The leadership changes will take effect on September 30. Two Sigma has implemented other management changes and granted investors the option to redeem their investments until September 18. The fund is known for its use of sophisticated algorithms in trading.