Remember Engadine Partners, the London-based hedge fund set up last year by Marcello Sallusti, the former deputy chief investment officer at Egerton Capital? It's still hiring.
Engadine just recruited Sascha Safai, a former vice president in UK institutional equities at Man Group, as its director of business development.
Safai's arrival suggests Engadine hasn't finished with the build that started last November when it hired a researcher from Goldman Sachs and the former head of equities for Iberia at Cheuvreux as a senior analyst.
53 year-old Sallusti started Engadine with around $200m in assets under management. It's not clear what Engadine's AUM are right now, but Safai's arrival suggests they're expected to grow in future. Disgruntled equities professionals in banks may want to look the fund up: Sallusti's previous outfit was known as a very generous payer.
Safai isn't Engadine's only recent hire. In April it recruited Chude Chidi-Ofong from Ledbury Capital Partners as chief operating officer. Chidi-Ofong replaced the former COO, Michelle Wood, who only stayed for seven months and has yet to move into a new role according to the FCA Register.
The fund's expansion comes as equities professionals and equity researchers in particular face an uncertain future. Many are expected to lose their jobs before the introduction of MiFID II in January 2018 and are looking for more secure jobs on the buy-side. As we reported yesterday, Nomura's ex-head of equity research unit has just taken a job at a tiny hedge fund.