When Jacky Cheung left Credit Suisse back in 2012 he was a director – now he’s returned to the firm in Hong Kong and secured a promotion to managing director in the process.
Cheung resurfaced earlier this month at the Credit Suisse QT Fund – a quantitative fund specialising in systematic trading strategies – after leaving his previous Hong Kong-based role at GSA Capital in June last year, according to his public profile.
He spent about two years as a portfolio manager at GSA, a London-headquartered hedge-fund sponsor that focuses on systematic trading and employs quantitative analysis to make its investments.
Prior to GSA, Cheung was a portfolio manager at hedge fund Pine River Capital Management in Hong Kong between 2012 and 2016. He led a four-person team that used the quantitative relative-value strategy to trade emerging-markets currencies, but his team was cut in 2015, according to Bloomberg. Cheung stayed on as a consultant at the firm for seven months, according to his online profile.
While systematic trading jobs within quantitative funds are particularly hot right now, Cheung has forged a career in this sector since joining Goldman Sachs Asset Management as a graduate in 2000 and specialising in quantitative strategies. He then worked for Credit Suisse from 2004 to 2012, focused on quantitative macro strategies and global arbitrage trading
Cheung’s new Credit Suisse unit, the QT Fund, “aims to deliver uncorrelated, low volatility returns by developing and deploying systematic data-driven investment strategies”, according to the bank’s website. With systematic trading skills in high demand and short supply in Hong Kong, it is little wonder that Credit Suisse has brought Cheung back. And as a so-called “boomerang employee”, Cheung will come with prior knowledge of the Swiss firm’s operations and culture.
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