☰ Menu eFinancialCareers

Morning Coffee: Hedge fund discovers answer to employee satisfaction. Sign-up for 13 years

Hedge fund career

A hedge fund has been cultivating its employees' interest in astronomy

What’s the key to keeping hip, young, intelligent, employees who might otherwise be working for Facebook or Google happy? The answer is not money.

It’s fulfillment, according to Man Group chief executive Sandy Rattray, speaking to Financial News: today’s young employees want to be fulfilled. They want to be happy.

That may sound easier said than done, but Rattray clearly thinks he’s onto something. Employees are fulfilled when they’re given a, “high level of freedom,” he says. Mostly, this is freedom to work in the way they want, but it includes the option to wear sandals in the office and to push the paradigms of established thought. – Some of the algorithms developed by Man’s happy staff are based on astronomy.

Whether this fulfillment will last is another matter. Rattray’s employees, which include a former DJ and someone who used to work for Pixar, are busy developing the sort of artificial intelligence which could one day become self-learning and render them surplus to requirement. “We run money using machine learning, and in five or 10 years’ time we will run a lot more money using machine learning than today,” Rattray tells Financial News. “One of the reasons is that it can clearly pick up on things which humans find difficult.”

Separately, if you thought five years was a long time to wait for your banking bonus, spare a thought for the Credit Suisse brokers who are joining Wells Fargo.  Bloomberg reports that they’ve been offered 13 year contracts and have to stay for the full amount of time if they’re to receive the packages on offer to them. The Bank of England has already suggested that bonuses in the UK should be clawed back up to 10 years after they were awarded. Bankers need to hope that regulators don’t look at the US brokerage sector and get any funny ideas.

See if any hedge funds make it in our 2016 eFinancialCareers Ideal Employer Rankings

Meanwhile:

Until last year, Brevan Howard’s macro fund had never lost money. That’s all changed. (WSJ) 

Goldman Sachs just introduced the world to a whole new convenient-partnership model of prime brokerage. (Bloomberg) 

The average hedge fund gained 0.3% this year. That’s better than the 0.75% decline in the S&P, but hedge fund had previously underperformed the S&P for six years running. (NY Times)

Interest rate rises are great news for deferred bonuses at Bank of America. (Marketwatch) 

“In Switzerland, it is probably necessary that you at least speak German, English and French.” (Bloomberg)

Why you should emigrate to Saudi Arabia. (Bloomberg) 

Barclays was expanding in Africa under Antony Jenkins. It’s probably pulling out under Jes Staley. (Financial Times)

As a percentage of the total, there are more millionaire households in France, Germany and Italy than in the UK. (PBS)

How to scare employers away. (Forbes)

Astronaut Tim Peake’s parents: “We wish you’d been a banker.” (ITV) 

Photo credit: Big Andromeda galaxy by gianni is licensed under CC BY 2.0.

Comments (0)

Comments

The comment is under moderation. It will appear shortly.

React

Screen Name

Email

Consult our community guidelines here