Two Sigma, which ended December with roughly $70 billion in assets, said its management committee has been unable to agree on topics such as “defining roles, authorities and responsibilities for a range of C-level officers,” corporate governance and succession plans.
“If such disagreement were to continue, the adviser’s ability to achieve client mandates could be impacted over time,” the firm said in the filing from March. It added that it has already impacted the implementation of key research, engineering and corporate business initiatives.
According to the WSJ, which first reported on the rift earlier on Tuesday, the management committee mentioned in the filing is comprised by its two founders only: John Overdeck and David Siegel.
Two Sigma declined to comment on the matter.
Source: Economy - investing.com
