A management overhaul unveiled by Two Sigma on 27 August caps years of disagreement between the hedge fund’s co-founders that came to the surface in an unusual public disclosure last year.

Two Sigma said in a press release that John Overdeck and David Siegel, who co-founded the quantitative fund in 2001, would step down as co-chief executives at the end of September and remain as co-chairs. The firm manages $60bn of assets.