Discover your dream Career
For Recruiters

A hedge fund and a SWF just hired analysts from Morgan Stanley and BAML

Two more next-generation bankers have left investment banks. One quit Morgan Stanley for a hedge fund. Another quit Bank of America Merrill Lynch for a sovereign wealth fund.

Affan Usmani just joined the investment team of Temasek, Singapore's sovereign wealth fund, from Bank of America Merrill Lynch. Ify Okoli joined the equities team of hedge fund Arrowgrass Capital, from Morgan Stanley. 

Temasek opened a London office in 2013.  As we noted at the time, it likes to hire ex-bankers.  Other London recruits include former IBD analysts from UBS and Deutsche Bank.

Arrowgrass Capital is a hedge fund that was spun out of Deutsche Bank during the financial crisis. It's big, with 51 registered employees, according to the Financial Conduct Authority. Okoli isn't the first hire this year: Arrowgrass also recently hired Mark Thompson from J.P. Morgan and Brett Carron from Harbour Litigation Funding. Both are in support roles, however, with Carron joining as general counsel.

Both Usmani and Okoli quit banking within 28 months of joining. Morgan Stanley and BAML aren't alone in struggling to retain young bankers beyond the 24 month period. Morgan Stanley is, however, one of the only banks not to have introduced firm policies for cutting junior employees' working hours. 

Contact: sbutcher@efinancialcareers.com

Photo credit: Exit by Alejandro Groenewold is licensed under CC BY 2.0.

author-card-avatar
AUTHORSarah Butcher Global Editor

Sign up to Morning Coffee!

Coffee mug

The essential daily roundup of news and analysis read by everyone from senior bankers and traders to new recruits.

Boost your career

Find thousands of job opportunities by signing up to eFinancialCareers today.
Recommended Articles
Recommended Jobs
Leverton Search
Junior Equity Analyst
Leverton Search
London, United Kingdom
PER, Private Equity Recruitment
Investment Analyst, Public Equities, Investment Firm, Dubai, UAE
PER, Private Equity Recruitment
Dubai, United Arab Emirates
Mason Blake
Global Equity Analyst
Mason Blake
London, United Kingdom
Connect Resourcing
Energy Trading Analysts
Connect Resourcing
London, United Kingdom

Sign up to Morning Coffee!

Coffee mug

The essential daily roundup of news and analysis read by everyone from senior bankers and traders to new recruits.