Rokos Capital Management, the $6.8bn hedge fund set up by former Brevan Howard star trader Chris Rokos, has continued its recent hiring spree by taking on another former Goldman Sachs trader.
Michael Waresh, a former Goldman Sachs prop trader who has also worked for Royal Bank of Scotland in London, joined Rokos Capital Management on the 30 October, according to filings on Companies House today. Waresh is a veteran trader, who has extensive experience trading a variety of macro products. He left RBS in 2007, his last role in the UK according to the Financial Conduct Authority, and his LinkedIn profile suggests that he’s spent the past five years as a senior vice president and lead portfolio manager for FX alpha strategy at $100bn Singapore sovereign wealth fund GIC.
Rokos Global Macro Master Fund had a rough first half of 2017, with performance reportedly down by -5.1%, However, it is said to have gained +3.3% in September, according to Bloomberg and had narrowed the loss to just -1.2% by the end of last month.
He is the latest senior recruit at Rokos, which has steadily been building its UK operation with selective hires, predominantly former traders from large investment banks.
In May, it hired Ramnek Matharu, a former Goldman Sachs managing director who retired from the firm three years ago, aged 40. It then brought in Omar Gzouli, a former managing director at Barclays in New York who was previously head of U.S. exotics trading at the bank. In June, Robin Wilson, the former head of emerging markets trading for Europe, the Middle East and Africa at Credit Suisse, also joined as an emerging markets portfolio manager.
Rokos Capital Management was launched in 2015 by Chris Rokos, an ex-Brevan Howard star trader, after a long non-compete dispute with his former employer. The fund opened to new money in February 2017, and assets under management swelled to $6.8bn as a result. Rokos was reportedly set to double the size of its investment team this year from five to 10 people. Now, that five senior investment staff have been unveiled in 2017, that build out appears to be over.
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