Robert Mercer Resigns as CEO of Renaissance Technologies

Robert Mercer Resigns as CEO of Renaissance Technologies

Robert Mercer, co-chief executive of Renaissance Technologies LLC, is resigning from his role at the giant hedge fund, according to a letter sent Thursday by Mr. Mercer to the firm’s investors.

Mr. Mercer has assumed an outsize political profile in recent years, thanks to his support for various conservative and other causes. Mr. Mercer provided crucial financial support when Donald Trump’s presidential candidacy was lagging. Mr. Mercer and his daughter Rebekah advised the campaign, suggesting the installation of two Mercer family confidantes, Steve Bannon and Kellyanne Conway, atop the campaign.

In a letter to the firm’s employees, Mr. Mercer, 71 years old, said he has been subject to “scrutiny from the press” over the past year and that the media has unfairly linked him to Mr. Bannon.

“The press has also intimated that my politics marches in lockstep with Steve Bannon’s,” he says in the letter. “I have great respect for Mr. Bannon, and from time to time I do discuss politics with him. However, I make my own decisions with respect to whom I support politically. Those decisions do not always align with Mr. Bannon’s.”

In the letter, Mr. Mercer said he would cut his ties to Breitbart News, which he also has supported.

“For personal reasons, I have also decided to sell my stake in Breitbart News to my daughters,” Mr. Mercer wrote.

 

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