BlueCrest Capital Management, the family office run by billionaire investor Michael Platt, has taken on another portfolio manager in Singapore as it continues to source its senior talent from the local banking sector. Tom Kong joined BlueCrest earlier this month as a PM, having spent two years as head of G10 FX forwards/STIR trading at BNP Paribas in Singapore, according to his online profile.
New York-headquartered BlueCrest was one of the world’s hottest hedge funds until it became a family office in late 2015. As we noted earlier this year, the firm’s new status has not reduced its ability to recruit in London, where it has added several new senior staff from buy-side rivals. As in the UK, BlueCrest has been selectively hiring in Singapore, but has been prone to taking senior people – often department heads – directly from large banks. Singapore’s hedge fund sector is comparatively small, making recruitment from competitors more difficult than in larger markets such as London.
Portfolio managers like Kong make up a large proportion of these sell-side-to-buy-side moves. As we reported in July, Nicolas Fanchon, an executive director in fixed income proprietary trading at Nomura, joined BlueCrest as a PM.
Last September Laurent Piedois, ANZ’s head of FX options for Europe and America came on board as a PM. Piedois’ move came a few months after those of two ex-Barclays employees, who are now working as BlueCrest PMs in Singapore: Varun Kodthivada, the UK bank’s former head of Southeast Asia rates trading, and veteran trader Ashish Saksena, who spent more than 12 years at Barclays, latterly as a managing director.
In June last year, BlueCrest in Singapore took on yet another banking boss when Ron Choy, Credit Suisse’s head of APAC rates and head of APAC investor product group, joined as a PM. That same month, Deutsche Bank’s former head of fixed income and currency trading for China, Yun Zou, also became a BlueCrest PM.
BlueCrest’s liking for senior traders from banks is perhaps not surprising – its Singapore CEO, Pierre Mauratille, comes from this background. Before joining Bluecrest in 2012, Mauratille was director, yen interest rates trading, at Barclays in Tokyo.
Like Mauratille, Kodthivada and Saksena, new BlueCrest recruit Kong is another Barclays alumnus. Prior to BNP Paribas, he spent about eight years at the firm in New York and Singapore, most recently as a FX/STIR trader.
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