Soros Said to Seek CIO as Burdick Steps Down After Eight Months

Ted Burdick is stepping down as chief investment officer for George Soros’s $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 current post until a replacement is found and then will return to running a credit portfolio at the firm, according to people familiar with the matter. Soros Fund Management is looking for a CIO candidate with experience in macroeconomic investing, said one of the people, asking not to be identified because the information is private. Michael Vachon, a spokesman for Soros, declined to comment.