BTG Pactual, the Brazilian investment bank, may be expanding its London office by bringing in up to 100 new commodities staff this year, but its UK operation still primarily operates as an asset manager and a hedge fund. It’s here where it’s been poaching staff from larger investment banking rivals.
Paul Savini Jr, who managed a team of emerging markets traders covering the CEEMEA region at Goldman Sachs, is the latest senior trader to sign up to BTG’s top performing hedge fund. He signed up to the bank in May as a portfolio manager covering Asian credit investments in BTG’s internal hedge fund and is registered with the UK’s Financial Conduct Authority, but is understood be carrying out the role from Hong Kong.
Savani spent nearly five years working at Goldman Sachs, having joined the U.S. bank in June 2009. Before this, he worked in various trading roles at UBS for around eight years, including emerging markets credit trading, Asian credit and Yankee bond trading and investment grade and corporate credit trading.
Savani is the latest in a series of recent hires at BTG, primary for its hedge fund operation. Tyron Eng, previously a director in structured products at hedge fund Ares Management, joined earlier this year as a portfolio manager focusing on securitised products, while Anil Kamath has signed up also signed up as a portfolio manager from The Berkeley Global Alpha Fund. Meanwhile, Matteo De Paulis joined from Mariner Investment Group for BTG’s global equity relative value fund.
David Herzberg, BTG’s managing partner and head of international equity trading, joined from JPMorgan in 2011 to run a ‘fund-like structure’ trading BTG’s proprietary trading capital. He stated his desire to double his team from 10 to 20 people over the course of 2012, but this hiring spree has continued, as the recent recruits demonstrate.
BTG’s hedge fund unit has around $9bn in assets under management and employs over 70 traders worldwide.