Two Sigma to Test Remote Work Twice a Week After Labor Day

(Bloomberg) -- Two Sigma Investments plans to ask staff to return to the office in September and will experiment with a hybrid model that allows them to work remotely two days a week.Employees should expect the change to take effect after Labor Day, “but that’s going to depend on the science, the availability of vaccines, and schools opening, global regulations,” Two Sigma Chief Technology Officer Jeff Wecker said Monday during the AI and Data Science in Trading conference.The $58 billion quant firm, which has gradually allowed some staff to return to its U.S. offices, plans to re-evaluate the hybrid model before the middle of next year. Most employees have been working remotely since last March.“We learned a lot obviously working from home,” Wecker said. “I certainly feel that the world has changed and we’re trying to accommodate people as best we can.”Wecker joined New York-based Two Sigma in July from Goldman Sachs Group Inc. -- in the middle of the pandemic -- and said he hasn’t been able to meet many of his new colleagues in person.“I’m looking forward to seeing everybody,” he said.Read more: Hedge Funds Are Slow-Walking Wall Street’s Return to OfficeTwo Sigma has more than 1,600 staff worldwide, including about 1,350 at its Manhattan offices. In addition to hedge fund investing, The firm also operates venture capital, private equity, impact investing, market-making and insurance businesses.The firm has been spending a lot of time during the pandemic doing “painstaking” work on various learning algorithms and artificial intelligence, Wecker said. It’s also focusing on “scaling computation in the cloud to solve more and more sophisticated complex problems” to get an edge in investing, he said.(Updates with Wecker comments in fourth paragraph, cloud-computing in last.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

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