American billionaire Paul Tudor Jones' firm closes Singapore trading desk

About 10 employees in the city were dismissed.

Paul Tudor Jones, an American businessman who founded the US$11 billion hedge fund Tudor Investment Corp., has closed the firm's Singapore trading desk amid global cut.

According to Bloomberg report, Tudor dismissed 15% of its workforce last August while accelerating its focus on quantitative research, as hedge funds have struggled to navigate markets since the global financial crisis.

There are around 10 people working for Tudor in Singapore before the firm closed the trading desk.

Here's more from Bloomberg. 

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