15-07-2025
Walleye, Former Trader Spar Over Hedge Fund's Non-Compete Terms
Walleye Capital is feuding with a former top trader over his ability to form a new venture after he left the hedge fund earlier this year.
Geoff Tennican joined Walleye about 12 years ago and oversaw its volatility arbitrage business — a strategy linked to swings in asset prices — until his departure, according to his lawsuit in a California state court. Between 2020 and 2024, he estimates that his part of the business earned more than $500 million for Walleye, with profits exceeding $200 million in 2022 alone, making him one of its biggest earners.
