2012 may already seem blighted by redundancies, but new shoots are emerging in between the withered aspirations of various international investment banks.
Towards the end of last year, several new hedge funds/brokerage firms gained their FSA licences in London. These firms are small: most employ no more 20 people. They may also be fully staffed, but since most have been in operation for no more than two months (including the Christmas period), additional recruitment seems likely as 2012 progresses.
Here are three to which you may wish to send your CV, in suggested order of preference:
A ‘global alternative asset management and advisory business’ set up by Bill Winters, the former co-chief executive of JPMorgan. Winters has a 50% stake in the business, with the other 50% split equally between investment trust RIT Capital Partners, chaired by Lord Rothschild, and the Luxembourg investment vehicle Reinet Investments.
Renshaw Bay has been a long time in coming. Winters announced its formation in February 2011, but it gained its FSA licence only in November 2011. Given Winters’ popularity, it must rank as one of the most desirable start-ups of recent times. Early submission of CVs seems advisable.
A new hedge fund set up by Theo Phanos, founder of hedge fund group Trafalgar Asset Managers. Phanos previous ran Trafalgar’s Credit fund. Capeview is understood to be a re-branding of Trafalgar’s Azri Funds.
Former Deutsche Bank executive Thanos is a big name in hedge funds. Capeview already has 13 approved persons working for it and appears to be a fairly substantial operation.
Elevation is an American institutional broker dealer focused on macro based and agency execution. It achieved its FSA licence in November and only has four approved persons currently.
Unlike some other small agency broker dealers, Elevation has the backing of a US parent company. It also appears very light on staff. A good fall-back option.