UK
Sector: Hedge funds
Many hedge funds cannot afford to pay bonuses
Hedge funds are suddenly doing ok: returns are up, redemptions are down and they’ve had the best start to the year in a decade. Unfortunately this does not mean that they will be paying large bonuses. Following closely on from last year’s disastrous performance, many hedge funds are still below the high water mark at [...]
Are Brevan Howard’s risk managers putting people off?
Yesterday we ran an article lauding Brevan Howard’s comparatively large number of risk managers. However, it has been brought to our attention that having that many risk managers may have a negative externality: traders allegedly don’t like working there for long. “The turnover of traders at Brevan Howard is high,” claims a senior prop trader [...]
Lunchtime(ish) Links: A sign that jobs are still going to India
A group of Deutsche Bank prop traders have demonstrated that there is life beyond investment banking. According to Bloomberg, the German bank’s quant trading group has formed a hedge fund called Roc Capital, which has already raised $1.2bn. Deutsche’s quant traders appear to made the move after the bank ‘scaled back risk taking’ and found [...]
This is not good news for hedge fund support jobs
Things are not looking good for the people who work in risk, finance, accounting, IT, and office maintenance (cleaning) at hedge funds. According to an article on Reuters which appears to have been cut and pasted into City AM, hedge funds are gearing up for consolidation. Reuters quotes Stuart McLaren, financial services partner at Deloitte. [...]
A sign that hedge funds are no longer the place to be
While investment banks have mostly had a good first quarter, the same cannot necessarily be said of hedge funds. GLG’s first quarter results, released yesterday, paint a picture of slowly falling headcount and – unlike investment banks – rapidly declining pay. GLG said its compensation and benefits and partner profit share fell 62% year on [...]
There are jobs in high frequency trading, apparently
According to Rick Bookstaber there are jobs to be had in high frequency trading. Recruiters say Rick is speaking the truth. “High frequency has been a good area for hiring for a while,” says David Durham of hedge fund-focused recruiter Durham Associates. “It’s one of the hot parts of the market at the moment,” agrees [...]
Blankfein on Compensation
Lloyd Blankfein (2008 compensation $43 million) thinks Wall Street needs to rethink the way financial people are compensated. What’s needed, he says, are “basic standards.” Among the guidelines the Goldman Sachs chief executive suggested in a speech to the Council of Institutional Investors: Only junior employees should be paid mostly in cash, and the percentage [...]
Pity the worst hedge fund managers who only made 300k last year
Much is being made of the hedge fund moguls who still managed to bring in many billions even in a down market, but spare a thought for the less successful hedge fund managers who were glued to their screens for far less and may now be feeling inadequate. According to the latest salary survey from [...]
GUEST COMMENT: I am a young and talented analyst fallen upon hard times
I am a young and talented analyst who’s fallen upon hard times. I only joined the financial industry in 06 along with a mass number of graduates who flowed into the market at its peak time. I’ve got an exemplary educational background (top of my faculty, Olympiad winner etc) and very competitive work experience (Goldman [...]
The Turner Review: Time to work for tiny hedge funds
Lord Turner’s review of financial services regulation is another nail in the coffin for banks’ prop desks, and quite possibly for larger hedge funds. Turner is calling for UK banks, UK subsidiaries of international banks, and hedge funds which have become ‘bank-like in nature or systemic in importance,’ to substantially increase the amount of capital [...]
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