$1.1 billion Paloma Partners is cutting staff, including its strategy and marketing execs, following a business revamp

Mădălin Mihai

Paloma Partners is cutting nearly a dozen personnel, including its strategy and marketing execs, according to people familiar with the matter. The staff reductions follow a broad revamp of the multistrategy hedge fund, founded decades ago by Donald Sussman, which included a leadership overhaul, a technology and operations rebuild, and outsourcing processes to streamline the firm. Paloma, whose assets have declined in recent years amid redemption requests, completed the project in the first