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sixtrain


Total Posts: 2
Joined: Sep 2017
 
Posted: 2017-09-27 19:55
If I apply for a job at my hedge fund's PB, how likely is it that will come back to my firm through sales contacts and such? It's not a job within the PB business if it makes a difference. Do banks have policies against hiring from their PB clients? What about from S&T customers?

This would be at the associate level if it matters.

HitmanH


Total Posts: 430
Joined: Apr 2005
 
Posted: 2017-09-27 21:39
If the hedge fund is a good client of the PB - the PB knows not to hire - or at least put in a very high level phone call first.

If this were us - we'd probably pull a lot of business from a counterparty after that- if the person was decent.
We have hired from a PB before - not direct coverage - but in the team - and on the day they resigned - we put a call into the head of pb - explained it all - and said wanted to tell them direct - and not hear it anywhere else - and it was all good.

I imagine the same would apply if other way round - although I think most HFs are attached to their staff - and banks are more accustomed to the conveyor belt

sixtrain


Total Posts: 2
Joined: Sep 2017
 
Posted: 2017-09-28 02:21
Thanks for the perspective.

I wouldn't be going to PB coverage, but to a trading desk. I don't do business with that desk as I'm in a different product, but someone else in the fund probably does.

How do you move from buyside to sellside in these circumstances?

HitmanH


Total Posts: 430
Joined: Apr 2005
 
Posted: 2017-09-28 09:04
In some respects - unless there is something else there- at Associate level - it's probably a lot less of an issue than at MD level.

It also depends on the firm - if you're at a big multi-strat - and deal with everyone on the street, you become accustomed to it a little - as people have to move. If you have close relationships with just 2-3 banks - and then it happens - more of an issue
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