Andrew Silverman is to head up a new credit unit in Schonfeld Strategic Advisors' new macro trading business, which launched earlier this year, according to a report by Business Insider.

Andrew Silverman is to head up a new credit unit in Schonfeld Strategic Advisors' new macro trading business, which launched earlier this year, according to a report by Business Insider.

Silverman, who joined the firm in July from Anchorage Capital Group, will reportedly be leading a team of around six people at the $14 billion family office-turned hedge fund, including Richard Aubrey, head of credit research. Aubrey followed Silverman to Anchorage in August after Anchorage's $7.4 billion hedge fund closed in December last year. 

Schonfeld CEO and CIO Ryan Tolkin expects Silverman's team to double in size over the next six to nine months, as part of a push to grow the firm into a multi-manager hedge fund rival to the likes of Citadel and Millennium Asset Management. 

The firm has added around 250 employees over the past year including 20 new investment teams offering a range of investment strategies.