UBS Managing Directors are leaving for hedge funds
Hedge funds are hiring. From the traditional small shops in Connecticut to the great global multi-strategy funds to the not-even-launched-yet, they’re picking up people around the world – and it seems they have developed a taste for UBS people.
James O’Callaghan, a 15-year veteran of UBS became head of trading in London last month for Jain Global – probably the most highly anticipated hedge fund debut in history. Founder Bobby Jain was CIO of Millennium before leaving to start Jain Global, which was once expected to be one of the biggest hedge fund launches in history.
Carlo Agostinelli left UBS bank after 9 years – most recently after a stint with the Equity Capital Markets (ECM) syndicate group. He's joined Ghisallo Capital Management, a Greenwich-based hedge fund, as an MD in Hong Kong.
Sachin Kanani, meanwhile, spent 19 years at UBS in London before leaving last month. He’s now head of volatility arbitrage advisory services for Millennium in Dubai.
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Hedge funds aren’t the sort of place that most people need convincing to go to. Average working hours and pay are better than in private equity. Being a portfolio manager is not easy, but some portfolio managers – work very little (given the industry) and can earn millions of any local currency in bonuses.
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