Hedge fund titan John Paulson, who rose to fame a decade ago betting against the U.S. housing market, has cut several senior traders and partners.
The firm, which has seen headcount fall and assets dwindle, let go of its head of trading, Keith Hannan; head credit trader, Brad Rosenberg; and firm partners Victor Flores and Allen Puwalski.
“We are rightsizing the firm to focus on our core expertise in areas that are growing,” according to a statement from the firm, Paulson & Co., on Friday.
The hedge fund runs about $9 billion and most of that is Paulson’s own personal capital. At its peak in 2011, the firm ran $38 billion.