How a global hedge fund diversified its trading desk.
Read and share this case study here (PDF).
Mandate and Challenges
Our Client is one of the world’s foremost high-yield and distressed asset hedge funds. They have a longstanding commitment to excellence and the highest standards for hiring, but like many hedge funds, their trading team lacked diversity. They needed to hire a Junior Trader with cross-asset experience (credit and equity) and were committed to diversifying the team, but their initial search did not yield enough relevant candidates. The Company had no recruitment history with TLG but knew us by reputation.
Solution
After consulting with the Head of Trading, we were engaged on an exclusive basis to identify and hire a diverse, Junior Trader. Our strategy targeted two profiles:
- Rotational program graduates – candidates from top global banks who rotated through relevant credit and equity (or derivative) trading desks;
- Structured derivative traders – candidates with deeper experience trading structured equity and/or credit derivative products.
In both cases, TLG successfully leveraged existing relationships while developing new leads via referral and cold outreach.
Success
- Quick turnaround – within 1 week receiving the mandate, TLG presented a slate of 12 diversity candidates who matched the hiring manager’s criteria;
- High success rate – 6 of 12 (50%) candidates were selected and completed a rigorous interview process, including a technical case study and trading pitch;
- Top candidate – with the help of TLG, the Company offered and closed their top candidate less than 6 weeks after commencing the search. Both the candidate and the Client have communicated excellent feedback to TLG in the 4 months after the hire.
Sean Locke is Managing Partner and Founder of TLG | slocke@locke-group.com
The Locke Group (TLG) is a specialist executive search firm which has served the financial industry since 2003. As a boutique, we are deeply invested in our clients – our care for their experience and the experience of their candidates is second to none – and we possess both the strength and flexibility to deliver results which help to power their business.