George Soros said to seek a new CIO

Ted Burdick is stepping down as chief investment officer for George Soros’s US$25 billion family office after less than a year in the role. Burdick, who had been head of distressed debt and arbitrage groups before his promotion in January, will remain in his post until a replacement is found and then return to running a credit portfolio at the firm, according to people familiar with the matter.