UK
Sector: Hedge funds
Who’s still hiring traders?
Following on from last week’s inordinately popular article on who’s hiring investment bankers, here’s something similar for traders – who are arguably doing even worse when it comes to job opportunities right now, particularly if they’ve been trading prop. As with the investment bankers, extracting information on hiring firms was like getting blood from a [...]
Hedge fund comp falling so fast pay studies can’t keep up
Last week, Hedgeworld sent an email publicizing the ’2009 Hedge Fund Compensation Report’ in partnership with recruitment company Glocap. It all sounded a little too good to be true: according to the preamble, hedge funds were very eager to hire risk and compliance people and pay wasn’t appreciably lower than it used to be. Unfortunately, [...]
GUEST COMMENT: Family offices are the future
What with stricken hedge funds and uncertainties surrounding even the most established private banks, the richest of the rich are increasingly forming their very own offices. Working for a family office has its advantages. Families make their own rules and look to recruit only the crème de la crème of talent. The aim is typically [...]
THE INSIDER: Why do prop desks still exist?
Rumours are all over the street about huge proprietary trading losses at most of the big houses in the fourth quarter and a quick glance at the results of Goldman and Morgan Stanley shows that VaR remains high by historical standards. The first response to this is simply: Aarrrrrrrrrrrgh! What is senior management thinking? I’d [...]
Madoff’s magic touch for hedge fund accountants
With hedge funds falling faster than final salary pension schemes, it hasn’t been a particularly great year for the common or garden hedge fund accountant. Their numbers went through the roof between 2005 and 2007, but their services have been less in demand of late. Thanks to Bernie Madoff and his alleged biggest ever ponzi [...]
Subsistence pay at hedge funds
With hedge fund bonuses all but extinct and salaries under pressure, hedge fund jobs may be about to become the preserve of a moneyed elite, able to survive for years on very little. Most hedge funds are now below their high water marks, following a disastrous September and an even more brutal October. Failure to [...]
TRANCHED: I am in conversation with people who are “setting up a fund”
The old cliché another day another dollar seems to be one that doesn’t apply to my new role. It’s been just over a week and I’m yet to deal with any risk-related disasters. It’s going to require patience, but I do at least have the space to investigate other opportunities. I’ve had a number of [...]
Would you put your life on hold to become a hedge fund trader?
Would you put your life on hold to become a hedge fund trader? No? Well that’s a shame, because that’s what it takes – particularly if you want to work for a global macro fund. This week’s Wall Street Journal article on the $300m of stock allocated to Fortress analyst Adam Levinson, divulged a few [...]
The execution trading trap
So you want to make a packet working as a hedge fund trader? Just make sure you don’t get stuck in an execution trading job. Unbeknown to the uninitiated aspiring trader, there are two types of trading role: execution trading jobs and full-blown analyst-style fund manager trading jobs. While execution traders are effectively ops staff [...]
Are short sellers the spawn of the devil?
Short sellers have proven the scourge of Bradford & Bingley, HBOS, Bear Stearns, Lehman, and any other institution that looks a little ragged around the edges. Spurred into action by horrid ‘bear raids’ on B&B and HBOS, the Financial Services Authority (FSA) has rushed to the rescue with draconian new rules. As of 25 June, [...]
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