- Joined
- 4/17/24
- Messages
- 3
- Points
- 1
I’m in desperate need of advice for a potential upcoming career move in the next few months. I’m currently working at a tier 2 broker (think Stifel, Kepler, Redburn).
I’ve been on the European algo agency desk for the past 3 years (first job - kind of - started in ops and joined the trading desk after a few months). We essentially offer execution capabilities and expertise to institutional clients (HF, AM, sovereign wealth, private banks, etc…).
I have a bachelors in CompSci (top 10 uni top of my class, if that counts for anything). Mid late 20s. Living in the UK.
My role is to guide clients on algo usage, monitor markets and algos for strange/interesting behaviours, TCA/execution consultancy, and optimal execution / mkt microstructure research (i do quite a bit of quant research, but the official job title is algo sales trader).
I may have an opportunity opening up on the buy side at an asset manager. They are not small (14bio AUM) but relatively unknown and small headcount (<40).
They are a fundamental value type shops, investing only in equities US and EU, in a restricted number of names (<200 stocks). They don’t trade very often, but when they do they trade many multiples of a day’s volume over weeks/months, and they sit on the positions forever. I would be joining there as an equity trader (currently they have 2 other traders).
This move would mean I would look at significantly fewer orders then in my current role (few a week vs 000s), have a much less quantitative view on execution and analytics, and significantly less exposure to different kind of buyside firms (which I currently get through my sell side client facing role).
It would however get me buyside experience, and a much needed education on the macro/fundamental side of things (my day to day is modelling orderbook dynamics, TCA, optimising routing and venue access).
My dream job would be at a quant HF, likely as PM or quant trader. The potential route I see there is starting as execution trader and get close to the alpha from there.
Obviously no one at work knows I am considering this AM move, but quite a few would be shocked. All my managers and senior traders seem to think a potential move should be to a HF (but the reality is I lack the pedigree HF look for - prestigious masters in Maths/MFE/stats, or big bank name). I tried speaking to a few headhunters, but never got word back from any HF/MM/Prop shop.
I could always apply for a masters while in AM job, and hope the weird mix of sell side trading + asset management trading + MSc in maths is something HFs would go for.
I’m really at a crossroad. While not my ideal move, going to an AM would allow me to get out of the sellside and exposure to things other than execution. That being said, I understand there’s not much mobility from AM to HF and I may get stuck there. However, I’m not getting younger and as my SS comp grows, it’ll be increasingly difficult for BS firms to match it or for me to take a cut to jump the fence.
Would really appreciate any colour or feedback, whether that kind of job sounds like it could lead to where I am headed, or anything regarding buyside AM trading in general, or whether it sounds like a sensible move. Thanks!
I’ve been on the European algo agency desk for the past 3 years (first job - kind of - started in ops and joined the trading desk after a few months). We essentially offer execution capabilities and expertise to institutional clients (HF, AM, sovereign wealth, private banks, etc…).
I have a bachelors in CompSci (top 10 uni top of my class, if that counts for anything). Mid late 20s. Living in the UK.
My role is to guide clients on algo usage, monitor markets and algos for strange/interesting behaviours, TCA/execution consultancy, and optimal execution / mkt microstructure research (i do quite a bit of quant research, but the official job title is algo sales trader).
I may have an opportunity opening up on the buy side at an asset manager. They are not small (14bio AUM) but relatively unknown and small headcount (<40).
They are a fundamental value type shops, investing only in equities US and EU, in a restricted number of names (<200 stocks). They don’t trade very often, but when they do they trade many multiples of a day’s volume over weeks/months, and they sit on the positions forever. I would be joining there as an equity trader (currently they have 2 other traders).
This move would mean I would look at significantly fewer orders then in my current role (few a week vs 000s), have a much less quantitative view on execution and analytics, and significantly less exposure to different kind of buyside firms (which I currently get through my sell side client facing role).
It would however get me buyside experience, and a much needed education on the macro/fundamental side of things (my day to day is modelling orderbook dynamics, TCA, optimising routing and venue access).
My dream job would be at a quant HF, likely as PM or quant trader. The potential route I see there is starting as execution trader and get close to the alpha from there.
Obviously no one at work knows I am considering this AM move, but quite a few would be shocked. All my managers and senior traders seem to think a potential move should be to a HF (but the reality is I lack the pedigree HF look for - prestigious masters in Maths/MFE/stats, or big bank name). I tried speaking to a few headhunters, but never got word back from any HF/MM/Prop shop.
I could always apply for a masters while in AM job, and hope the weird mix of sell side trading + asset management trading + MSc in maths is something HFs would go for.
I’m really at a crossroad. While not my ideal move, going to an AM would allow me to get out of the sellside and exposure to things other than execution. That being said, I understand there’s not much mobility from AM to HF and I may get stuck there. However, I’m not getting younger and as my SS comp grows, it’ll be increasingly difficult for BS firms to match it or for me to take a cut to jump the fence.
Would really appreciate any colour or feedback, whether that kind of job sounds like it could lead to where I am headed, or anything regarding buyside AM trading in general, or whether it sounds like a sensible move. Thanks!
