How much do you want to work for a top hedge fund? Enough to pay thousands of pounds for the privilege? If so, you’re in danger of getting scammed.
BlueBay Asset Management, a fund with around $58bn under management, has posted a warning on its careers pages cautioning applicants against scammers who are falsely claiming to recruit on its behalf.
“Victims are approached and informed their qualifications make them suitable to work as an employee (local or expatriate),” says BlueBay. “They are solicited to provide bank details and personal information in order to transfer sums of money to pay for work permits, insurance policies, system access etc.”
The scam represents an attempt by unscrupulous individuals to make money out of applicants’ enthusiasm for working at well known hedge funds. Average pay per head at BlueBay is around $203k, and $3.1m for partners. The fund runs an internship programme that is undoubtedly many times over-subscribed. BlueBay employs around 130 people in London according to the Financial Conduct Authority (FCA) Register. It recently hired Anahita Firouzbakht from Pictet as director of consultant relations.
BlueBay advises anyone receiving suspicious correspondence ostensibly from the fund to email its recruitment team at email@example.com. BlueBay itself never asks would-be recruits for money and no one receives an offer unless they’ve been to BlueBay’s office for a full assessment of their skills. experience and suitability for the role.
Fixed income hedge funds like BlueBay have had a hard time recently, but as the firm’s co-head of investment grade debt notes, the election of Donald Trump has the potential to make macro great again. If it were possible to pay to get a job at BlueBay, now might be the time.