If there are two certainties about the London financial services market right now it’s that few hedge funds are launching in the UK and that professionals are more likely to leave the City than arrive for a new job opportunity.
Engadine Partners, a new hedge fund set up by the former deputy chief investment officer at Egerton Capital, Marcello Sallusti, appears to be bucking that trend.
Engadine received authorisation from the UK’s Financial Conduct Authority earlier this month and has been slowly building its team.
Jonathan Rodgers, a former Goldman Sachs research analyst who latterly worked for Egerton as an analyst and portfolio manager, has signed up to the new launch as a partner.
Interestingly, Filipe Correia da Silva, the former head of equities for Iberia at Cheuvreux, who was most recently country head for Spain and Portugal at MainFirst Bank in Madrid. He’s moved to London to become a senior analyst at Engadine Capital. Borja Castro, who also a managing director at MainFirst in Spain, has relocated to London for a partner role at Engadine.
As we've pointed to recently, Spain has been more of a destination for senior financiers looking to leave London than a location to hunt down talent. Private equity firm Portobello Capital has been hiring bankers from London, while senior Goldman Sachs bankers have departed the City to joined PE firm Everwood Capital in Madrid.
Michele Wood has also joined as head of compliance.