Bruce Kovner and Peter D’Angelo, co-founders of Caxton Associates, are retiring from the hedge fund, The Wall Street Journal reports. The duo will be replaced by CIO Andrew Law. Law, who has been with the $10 billion fund for more than eight years, will be chairman and CEO starting January 1. The firm’s COO and CFO John Forbes, senior member of the management team Mike Bolitho and Scott Bernstein will run the day-to-day operations of the firm.

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