UK
Company: Man Group
Late Lunchtime Links: Insights into how you might get hired by Winton Capital, which appears an amazing place to work
Forget Man Group, which has just acquired fund of funds group FRM, and look at Winton Capital, which is frequently and favourably compared to Man on the grounds that it charges 50% lower fees and has outperformed to almost exactly the same extent that Man has recently underperformed. Even better, Winton Capital is hiring. It [...]
Lunchtime Links: Costs at Morgan Stanley and Bank of America are spiralling out of control; the bank that’s doing some big hiring; where to apply if you lose your job at Man Group
Morgan Stanley and Bank of America have both reported their fourth quarter results today. There is good news from both. Whether that good news outweighs the bad news is, however, questionable. In good news, Bank of America’s sales and trading business performed considerably better after an atrocious third quarter in which its normalized FICC [...]
Man Group’s strange choice of a former head of MTV to get ahead in China
While jobs are cut in London, another organization is making a push into China. The Financial Times reports that UK hedge fund Man Group has got a 5-10 year plan to push into China and that it intends to open a “fully fledged research and trading office in Beijing in the near future.” Working on [...]
Lunchtime Links: 20% of staff to go at Man Group; what happens to RBS if Hester gets poached by UBS?
As we pointed out on Wednesday, jobs at Man Group and GLG haven’t seemed particularly secure ever since it emerged that assets plummeted 8% between June and September. Now, the Financial Times has revealed that the company has doubled its planned redundancies. 20% of staff will go. So far, it says cutting has been focused [...]
Jobs in GLG funds look insecure
This hasn’t really to plan; Man Group bought GLG Partners last year to diversify its revenue streams and reduce its reliance on its flagship AHL fund, but it’s the new acquisition that’s leaking assets. There’s reason to believe that job cuts could be coming. Assets at the world’s largest hedge fund fell by 8%, to [...]
This hedge fund currently has over 30 jobs going in London
The Japanese earthquake may have hit computer-driven hedge funds hard, but Man Group continues to recruit in decent numbers for its London office, largely for AHL, its algo fund. Man posted less than glowing results last week, but still has over 30 vacancies in London. They include AHL-based quantitative analysts, client portfolio managers, research technologists [...]
Late Lunchtime Links: London’s largest hedge funds have cut staff 25%; yes, female investment bankers DO work during labour
Prop traders planning to join large hedge funds take note: Man Group is not alone in cutting staff. According to research seen by Financial News, the number of ‘senior UK-based sales and investment professionals’ employed by medium sized and large hedge funds, has fallen 24% over the past nine months. Once there were 1,288; now [...]
Lunchtime Links: How to achieve an extra 28 days’ holiday; and operations hiring recently went through the roof
If you’re already starting to ration this year’s holiday allocation with a view to ensuring you don’t have to work the entirety of the Christmas period, Bloomberg highlights the case of two bankers who achieved an additional 28 days+ out of the office in the form of pointless gardening leave. Merrill Lynch hired Achintya Mangla [...]
Lunchtime Links: Redundancies at Man/GLG? And is this the shape of pay restrictions to come?
Man Group is acquiring GLG, thereby reducing its dependence on Man Diversified whilst making the three GLG founders Noam Gottesman, Pierre Lagrange and Emmanuel Roman, very rich – as long as Man’s share price doesn’t completely tank. According to Citywire, the three founders have been locked in for three years and given a 10% stake [...]
Is Goldman becoming a mere training ground for hedgies and private equity professionals?
Analysts at Bernstein Research are concerned on behalf of Goldman Sachs and Morgan Stanley. While they rate them as outperform, they’re worried that both are in danger of becoming “trainer” institutions that simply hothouse talented youths for elsewhere. The angst emanates from new rigorous compensation restrictions applied to banks’ pay. In the UK there’s The [...]
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