In case there were any doubt as to the two main career paths when you leave a markets job nowadays, Jefferies' former head of EMEA sales trading just joined a hedge fund, while a former portfolio manager at Pimco just reinvented himself as a fintech "mentor."
Gavin Phillips, Jefferies' managing director and head of sales trading EMEA has left the bank and immediately transitioned to King Street Capital Management, a New York-based hedge fund with an office in London. Philips describes his new role at King Street as "trader."
Meanwhile, Amit Mehta, an emerging markets portfolio manager who left Pimco in June 2015 following the closure of four active equity funds, has appeared as a voluntary mentor at Startupbootcamp, which describes itself as 'the leading accelerator focused on financial innovation.'
Mehta doesn't ostensibly have technology experience. However, he knows a lot about banking after being a VP of banks research at Morgan Stanley and a financials analyst at Insight Investment.
Philips' move to King Street is notable for the absence of gardening leave. As we reported earlier this year, Jefferies is notorious for paying cash bonuses and reclaiming them if employees leave within 12 months of their receipt. Was Philips so keen to join a hedge fund that he forewent his cash bonus for 2015 and was then able to move jobs immediately? Maybe.