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Tudor Capital appears to be targeting quants and macro specialists as it continues its European expansion.

Tudor continues UK expansion with new partner hire

Tudor Investment Corporation, which has been on a recruitment spree for its European operation this year, has continued its expansion with the recruitment of an FX portfolio manager from a hedge fund set up by a Deutsche Bank quant five years ago.

Will Holt, who has been a partner at systematic hedge fund Octave Investment Management since March 2012, joined Tudor’s UK operation earlier this month as a partner, according to sources close to the situation. He is the second senior macro-focused recruit in the last three months after Nick Munns, previously co-manager of the macro fund at Omni Partners, joined in August.

This is despite the fact that macro hedge funds like Tudor and Moore Capital have suffered a "brutal" October, according to a report in the Financial Times, after uncertainty over US interest rates and a reversal in the rise of the dollar dented performance. Both funds have continued to hire regardless.

Before joining Octave, which was set up by former Deutsche Bank quant Tarun Joshi in 2009, Holt was founding partner at JCH Capital, where he worked for eight years. He also spent five years at Goldman Sachs and less than a year working at Lehman Brothers in 2003. He has a PhD from London Business School.

This is the hedge fund’s fourth significant hire in two months. Last month, as we revealed, Robert Gold, a former Goldman Sachs managing director who was latterly working for hedge fund Idalion Capital, joined Tudor. Before this he spent 14 years at Goldman Sachs Asset Management, latterly focusing on global fixed income and currency management.

Further down the career ladder, Naeem Wahid, a G10 FX strategist at Bank of America Merrill Lynch and Mitja Blazincic, who worked in quantitative solutions and innovation at Morgan Stanley, also joined in the last month.

Overall, Tudor has added 11 new FCA regulated employees over the past 12 months, which is not an insignificant figure for a company with 62 registered employees in the UK.

Tudor is in the process of moving out of its high-end office based out of a mansion in Surrey that features a gym, tennis court and 25-acres, to 40,000 square foot location in London’s Burlington Square.

 

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AUTHORPaul Clarke
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