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Late Lunchtime Links: Meet the women of Brevan Howard. Fixed income traders urgently need to learn how to programme

men only!

Brevan Howard has released its Annual Return today. This lists all its partners and confirms what we already knew: there’s a serious shortage of women working there. Out of 44 partners, it appears only three are female: Andrea French, Vivienne Jack and Geraldine Sundstrom.

 

Who are these matriarchs of the hedge fund industry? French, it seems is Brevan’s COO. She joined in 2005 and was made a partner in 2007. She began her career in Salomon’s bond portfolio analysis department as a research assistant before moving into structured credit trading. She likes to run marathons.

 

Vivienne Jack, we know nothing about: she hasn’t worked anywhere other than Brevan Howard in London and is invisible on the web. Geraldine Sundstrom, joined Brevan in 2007 from Moore Capital. Prior to that, she worked at Citigroup, as a VP and investment management analyst focused on special opportunities in emerging markets. Geraldine studied at University Paris Dauphine and has a masters from Birkbeck in London. If you’re a woman who wants to work in a hedge fund, here are your roles models.

 

Separately, Morgan Stanley’s fixed income traders have further reason to be concerned today. As we’ve already pointed out, jobs in Morgan Stanley’s fixed income sales and trading business seem precarious after it massively underperformed in the second quarter. Today, the Wall Street Journal says that Morgan Stanley is rushing to automate its fixed income trading business and will be hiring programmers and trading specialists. This follows the launch of Goldman’s electronic bond trading platform.

 

Ominously, recruiters say that even really good bond traders can’t get jobs nowadays.

 

“Our best traders spend a lot of their time pounding away writing code,” said Ryan Sheftel, head of automated Treasury bond trading at Credit Suisse. Fixed income traders are already far less manually involved in trades than they once were, said Sheftel: they mostly write code which executes trades for them.

 

Meanwhile:

 

“An RBS algo went beserk.” (Zerohedge)

 

A lengthy exposition on high frequency trading. (Wired)

 

Barclays has hired in equities:  Richard Evans, former head of Delta One strategists at Morgan Stanley is joining in September as COO for equities in EMEA after leaving Morgan Stanley in January. (Financial News)

 

Standard Chartered might be suing New York State’s Department of Financial Services for reputational damage. (Financial Times)  

 

Analysts believe that Standard Chartered will end up paying a fine of around $1.5bn. That seems a bit arbitrary, but it is far less than the $17bn that the market chopped off the bank’s market value in Tuesday’s trading. (Fortune) 

 

Standard Chartered could merge with JPMorgan, says Berenberg analyst. (Financial News)  

 

If you want to get ahead in private equity, you need phenomenal attention to detail and an ability to take a contrarian view. (Financial News) 

 

Presenting: the hedge fund name generator. (HedgefundnameGenerator)

 

What Goldman Sachs says you should be reading this summer. (Financial Times)

 

 

 

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