Walleye hires the portfolio managers to trade financial stocks

Walleye hires the portfolio managers to trade financial stocks

Walleye Capital, a prominent hedge fund, has recently made strategic hires to bolster its financial stock trading team. Joe Arcadi, a former portfolio manager at Walleye's Stamford, Connecticut office, has joined Bank of America in New York as a macro credit trader [1]. Arcadi's new role marks a return to banking after four years on the buy-side, following a tenure at JPMorgan, Barclays, and BlueCrest before joining Walleye in 2023.

Arcadi is not the only ex-Walleye portfolio manager to move on from the hedge fund. Travis McCormack, who also left Walleye, has joined Deutsche Bank earlier this month [1]. These moves come amidst Walleye's restructuring, with the fund closing its credit and commodities teams in May [1]. While it is not unusual for hedge funds to adjust their asset allocation strategies, Walleye's habit of staff changes has been noted.

Meanwhile, in a separate development, SEGG Media (NASDAQ: SEGG) has announced a 1-for-10 reverse stock split effective August 29, 2025. This strategic move aims to enhance institutional investor access, strengthen market structure, and mitigate market manipulation risks [2]. The company's Board of Directors approved this decision following shareholder authorization from February 2025. The initiative is supported by $450 million in commitments from United Capital Investments London Limited and Generating Alpha Ltd. The reverse split represents a proactive and growth-focused decision rather than a compliance necessity, positioning SEGG Media to execute strategic acquisitions.

The reverse stock split will convert each 10 shares into 1 share, effectively increasing the per-share price by a factor of 10 while proportionally reducing the share count. This move is expected to attract algorithmic trading systems, reduce volatility, and improve liquidity through engagement with premier market makers. The new CUSIP number and price adjustment could help disrupt patterns of aggressive short-selling, as indicated by SEGG Media's retention of Paul Hastings LLP to investigate potential stock manipulation [2].

SEGG Media's announced reverse stock split is part of a broader strategic plan to create a stronger foundation for sustained growth, institutional engagement, and value creation for shareholders. The company anticipates strong support from its committed investors and expects the decision to appeal to new investors seeking exposure to a robust, scaled digital media platform.

References:
[1] https://www.efinancialcareers.com/news/hedge-fund-walleye-closed-its-credit-team-and-bank-of-america-benefitted
[2] https://www.stocktitan.net/news/SEGG/segg-media-announces-strategic-1-for-10-reverse-stock-split-to-iadfott4c6va.html