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A quant hedge fund paying graduates £140k is engaged in "ballistic" hiring

If you're a quant or a developer, and you're looking for a new or a first job, you might want to try Qube Research and Technologies. In the words of one industry source, the systematic trading hedge fund that spun out of Credit Suisse in 2017 is suddenly "going ballistic" when it comes to hiring.  

Qube declined to comment for this article, but some of its recent hires are already in the public domain. As we reported last week, Francois Jeulin, Citadel Securities' Hong Kong-based head of index arbitrage, is understood to have joined Qube in Asia. Other recent hires include: Pierre Henry-Labordere, the former head of quant research at Natixis, Mike Hill, a former Credit Suisse technology MD in London, Zohar Melamed, Credit Suisse's former chief engineer for wealth management,  Antoine Mahé, a former Millennium stat-arb trader in Dubai, and William Alcock, a former senior Bloomberg technologist in London. It seems that around 50 people have joined in the past few months alone.

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That's a lot for a smallish hedge fund. Qube's most recently filed accounts, for the year ending December 2022, showed it employing 229 people from its London headquarters and its additional offices India and Paris. Since then, Qube has opened offices in Hong Kong, Shanghai, Singapore, Zurich and - most recently - Denmark. The Danish office, which opened this month, is being run by Joran Blaue who joined in January from a local power trading firm. Qube also has a new office in the Nova Building in London's Victoria district, and is understood to be adding heads there. 

Recruiters say Qube doesn't generally pay as well as some market makers and hedge funds, but it doesn't exactly pay badly either. In 2022, pay per head was £697.3k ($894k). Submissions on Levelsfyi suggest graduate hires in London can earn  $177k. Headhunters say the firm is willing to pay top rates for exceptional people. 

Many of Qube's recent hires have been interns and graduates. It's currently recruiting for a number of graduate programs in London, and is looking - among other things - for students with knowledge of NLP and AI. At more senior levels, it's understood to be building out a discretionary business in London. 

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AUTHORSarah Butcher Global Editor

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