Morning Coffee: 90% of jobs at hot new hedge fund are NOT managing money. Make UBS gift you $50k

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If you're a macro hedge fund manager, you've probably heard of Chris Rokos. You've probably also heard of Chris Rokos' new hedge fund, 'Rokos Capital Management.' Maybe you want to work there? Last time we looked, it was hiring quantitative analysts, investment controllers, algo developers and more.

Reuters reports that Rokos Capital Management now has 50 staff. What Rokos hasn't been hiring in big numbers, however, are portfolio managers. Of these, there are only five: himself; Stuart Riley, ex-head of Asia Pacific macro trading at Goldman Sachs; Borislav Vladimirov, an ex-colleague from Brevan Howard; and two assistant portfolio managers of lesser importance. The remaining 45 Rokos staff are effectively, therefore, support staff for these five individuals. Who said hedge funds lack infrastructure?

Separately, if you don't want to work for UBS but you do want the Swiss bank to pass you $50k, you can always enter  the bank's new 'Future of Finance Challenge'.  UBS is looking for entrepreneurs with 'disruptive ideas' which will change finance. It has $300k to give away in total, with a first prize of $50k for the greatest disruption.


Goldman Sachs is developing apps that will give its clients access to its secret in-house tools, such as high-powered databases that analyze markets and manage risk. One of these apps is called 'Simon.' (WSJ) 

Houlihan Lokey pays 66% to 68% of its revenues as compensation. (Financial Times)

The joint heads of RBS's investment bank just received £483,558 each in shares. (Financial Times) 

HSBC is strengthening its UK investment bank. It just promoted Natalie Blyth as global head of large corporates and Philip Noblet, as co-head of U.K. investment banking. (WSJ)

UBS has shuffled jobs in its U.S. FX, rates and credit business. (Reuters) 

Can you really trust banks’ risk models? (Bank Underground) 

Credit Suisse and Barclays may have to pay $10m+ each in fines for the nasty things in their dark pools. (Financial News) 

Tragic 52 year-old broker is now homeless, sleeping on pizza cartons. (NY Daily News) 


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