If you want to work for a hedge fund in London, then you should know that BlueCrest Capital Management is almost always hiring. So is Millennium Capital Partners. If neither BlueCrest nor Millennium appeals, there are many other hedge fund options. Bloomberg has unearthed several in the asset backed securities (ABS) space alone.
Ellington Management Group is hiring, reports Bloomberg. It's just opened a London ABS business and has already recruited Daniel Turner from Chenavari Credit Partners to run it. MKP Capital Management has also opened in London. MKP has hired Pritesh Solanki from HSBC and has dispatched Christopher Muller from its U.S. office. Golden Tree Asset Management is also active in ABS in Mayfair. It has transferred Cee Sarabi from New York and may yet need to hire a few more people. Marathon Asset Management has opened a second fund to invest in European ABS.
Bloomberg says ABS business is finally picking up as European banks finally sell their distressed asset backed securities. Hedge funds are competing with private equity funds to buy them, $300bn of distressed loans are expected to be unloaded by European lenders between now and 2018. For some funds, any hiring that happens in 2014 will come at the end of heavy pontification - one fund arrived in London in 2011 and has only just moved a member of staff to the city.
Separately, Goldman Sachs has issued some advice from one of its recruiters, which includes a primer on the art of interview follow-up. Follow-up is always important says 'Abigail' a recruiter from Goldman's NY office. Follow-up even if you've just had a quick coffee. How should you follow-up? "Most follow up emails thank the interviewer for their time and also highlight something unique that the person took away from the conversation," Abigail advises.
Goldman Sachs is introducing a new and innovative pay structure to avoid EU bonus rules, but no one knows what it is. (Wall Street Journal)
Mr. Blankfein’s increased pay is moderate compared with other bank chiefs. (DealBook)
Lloyd Blankfein to earn more than James Gorman and Jamie Dimon. (Financial Times)
2014 may not be a great year for FX businesses. (Euromoney)
ICBC has bought Standard Bank’s London-based markets unit in order to expand in trading spanning commodities and interest rates to currencies. (Bloomberg)
Barclays may also cut 520 jobs at its corporate bank. (Bloomberg)
Banking intern writes poem. (Financial Times)
A reminder that Rich Ricci is still rich. (Financial News)