Verition’s Jonathan Raiff Joins Schonfeld

Jonathan Raiff has left Verition Fund Management and joined Schonfeld Strategic Advisors, according to people familiar with the matter. Verition will distribute his fixed-income and macro responsibilities across several members of its investment team.

At Verition, Raiff served as head of fixed income and ran macro investments. His remit included relative-value, foreign-exchange, rates and structured-products strategies. The firm will spread oversight for those areas among existing staff rather than appoint a single successor.

The personnel change comes amid higher volatility in bond markets, driven by shifting inflation expectations, changes in interest-rate policy and geopolitical developments that have affected fixed-income and macro portfolios.

Raiff joined Verition in 2022 after more than two decades in investment banking and markets. Before that he was deputy head of global markets at Nomura, a position he left in 2021 following losses at the bank tied to the collapse of Archegos Capital Management.

Verition managed about $15 billion as of July. The firm declined to comment on the staffing change, and Raiff did not respond to requests for comment. People familiar with the situation said Schonfeld hired Raiff to expand its fixed-income and macro capabilities.

Under the new arrangement at Verition, responsibility for macro investments, rates, FX and structured products will be shared across the investment group, relying on internal resources rather than an external hire to fill a single head-of-fixed-income role.