With big banks scaling back, it’s worth looking at start-up for new job opportunities. Yes, joining a new firm is risky, but there are numerous hedge funds, private equity companies and boutiques that have launched over the past two months.
Here, courtesy of the UK Financial Conduct Authority register tracked by corporate finance boutique IMAS, are our pick of the bunch.
Set up by former Goldman Sachs partner Ed Siskind, Cale Street is a property investment firm with $1.5bn backing from the Kuwait Investment Authority. Siskind was formerly head of real estate at Goldman and has been building its team since setting up late last year. It’s just received the thumbs up from the FCA.
Ramon Camina, who was in real estate financing at Goldman for 11 years, and real estate veteran Wilson Lee, are the other two founding partners. More recently, it’s been hiring at the junior end including former Goldman Sachs analyst Miguel Lainez, who joined as an associate in July.
The pedigree behind Equitile Investments, which claims to be a ‘disruptive’ fund manager offering more transparent fees, is impressive. At the helm is Andrew McNally, who helped set up Berenberg’s UK operation and build its equity research function. Then there’s ex-J.P. Morgan managing director and Bluecrest fund manager, George Cooper, who is chief investment officer and Thor Johan Furuholmen, who has worked in equities at Morgan Stanley and Carnagie, as well as setting up his own firm in Norway.
The plan is to build up the company in the near future.
Very much a boutique firm – a muti-strat hedge fund set up by Benny Manashe, who was latterly CEO of FX prime brokerage, Finotec. Falcon has just two employees listed on the FCA register – Manashe and Delphane Sitbon, who is also a director.
Flagstone is another firm that claims to be shaking up mainstream financial services organisations, this time offering an online cash management platform. This retail focused offering has been set up by a number of former investment bankers and hedge fund managers. Andrew Thatcher, the former head of UK at Man Group and GLG Partners, Simon Merchant, who headed up Morgan Stanley’s tech M&A team, and former Virgin CFO Mark Poole all head up the firm.
Defined as a hedge fund by the FCA, but as a ‘specialist’ asset manager by its founder Tony Dalwood, Gresham House has the backing of some wealth management big wigs including Rupert Robinson, who most recently headed up Schroders’ private bank. Dalwood himself spent years at Schroders private equity division before founder his own PE firm Branton Capital. So far, Gresham House has five listed employees.
A new hedge fund set up by Eli Muraidekh, a former investment director at BlueBay Asset Management and Windmill Hill Asset Management, Telamon was given the go-ahead in October. So far, Richard Thackray, who spent time as a headhunter at Heidrick & Struggles, is the only other employee.
Another new hedge fund with some serious former investment banker firepower behind it, Tower House has Richard Jones – who was formerly co-head of European media equity research at Goldman Sachs – as one of the founding partners. It also has Paolo Mortarotti as CIO – he previously worked at UBS O’Connor before going into a business development role at beverages company C&C Group. It has six FCA-registered employees currently.