January 2017: Energy/Commodities Leads All Sector Hiring, Squarepoint Adds to 2016 Hiring Blitz, and Citadel Remains atop All Hedge Fund Hirers

If January hiring provides any insight into where big hedge funds are placing their incremental sector bets this year, the energy/commodities sector is ripe for financial market moves.

Making one or more energy/commodity hires in January were Chicago-headquartered Balyasny Asset Management (BAM) and Citadel, the most active hirer of talent to start the year, as well as New York–headquartered Millennium Management and Connecticut-based Tudor Investment Corp.

Meanwhile, London-based Squarepoint Capital, the Barclays Capital/nQuant team spin-off that started trading in 2015, made a handful of software engineers/tech analyst hires in January and continued converting internship program members to full-time roles, as it continues to add to one of the most prolific hiring sprees of any new firm in 2016.

At the end of 2014, firm founder Pierre-Adrien Nicolas reportedly left with about 65 Barclays staffers. In 2016 the firm hired at least 65 additional staffers — most of whom were non-Barclays professionals — making it one of the industry’s top hirers among newer firms and ranking alongside some of the industry’s biggest firms, according to HFObserver data.

January’s double-digit hirers included Citadel (including affiliates), Millennium Management, New York–headquartered Two Sigma Investments (including venture fund hiring), Westport, CT-based Bridgewater Associates, and BAM.

Citadel picked up another 8–10 staffers from Gild after hiring about as many in October 2016, when it acquired the recruiting software provider’s intellectual property assets, as first reported by HFObserver (article).

Bridgewater, which late last year announced a firm “renovation” that included work-staff reductions, and London-based BlueCrest Capital Management, which has been restructuring its business as a family office, had the greatest number of former staffers joining new firms among ongoing concerns. In January, Bloomberg reported that head of Asia equities portfolio manager James Chen planned to leave BlueCrest, along with most of his 11-person team, which is based in Hong Kong.

Among some of the big firms experiencing poor performance and redemptions, UK-headquartered Brevan Howard Asset Management seems to have turned off its hiring spigot, while Tudor is still hiring into the new year.

Goldman Sachs lost the most talent to hedge funds among the banks.

The HFObserver Industry Moves Database is compiled daily from publicly available sources and information sent to HFObserver (click here to access full listing of monthly job moves — subscription required).