As we noted last week, the imminent announcement of bonuses for 2020 doesn't seem to be dissuading some Goldman Sachs managing directors from leaving for Citadel before those bonuses have even been paid. Edward Eisler may not be quite as aggressive as Ken Griffin when it comes to extracting bankers during bonus season, but Eisler certainly likes hiring from Goldman Sachs, and he too is rather generous with it.
Accounts just released for Eisler Capital Management Limited show that the average salary for Eisler's 66 UK employees was £500k ($677k) in the year ended December 2019, down slightly on the £509k average of a year earlier. Like most hedge funds, Eisler Capital Management releases its accounts a year in arrears.
Average pay per head at the fund fell slightly in 2019 as headcount expanded by 18 people. It fell too as revenues rose from £48m to £66m.
Eisler Capital Management was founded in 2016 by Edward Eisler, Goldman Sachs' former head of securities. Eisler has surrounded himself with numerous ex-Goldman hires, including Sam Wisnia, Goldman's former head of global co-head of strats and Francesco U. Garzarelli, Goldman's former head of macro research. In November, he hired Chris Milner, Goldman's former head of fixed income currencies and commodities sales strats as COO.
Although the newly-released accounts are already a year out of date, there are signs that Eisler continued hiring in 2020. As well as Milner, the fund hired Sébastien Lefort from Citadel Securities, Hugo Madigou from H2O, Mark Mallon from MKP Capital, and Samer Nsouli from First NY Capital among others.
While Eisler is clearly a very generous payer, some rival funds pay even more. ExodusPoint paid its London employees an average of £568k in 2019; Citadel paid over £800k.
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