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Qube Research and Technologies: The hedge fund on a hiring spree

Qube Research & Technologies is well established in the quantitative the hedge fund world, having been founded in 2016, but it's expanding rapidly. The fund, spun off from a systematic trading team at Credit Suisse, added $4bn in AUM, between the start of 2024 and May, and returned 22% from January to April according to Business Insider. In the process, it's been hiring wildly. Three years ago, it employed just 229 people in its head office in London. Now, it has reached 1,100 employees globally. 

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Who is Qube hiring? And what's it like to work there?

We've spotted around 215 people join Qube already this year, 104 are based in the UK, after it recently moved to a new office in Victoria. 

Qube is a quantitative hedge fund, so it's not surprising that it likes to hire quants and technologists. Recent hires include Gabriel Ditu, a senior engineer from Balyasny, who joined this month.  Seven of its London hires in 2024 have previously worked at Credit Suisse, including two MDs: Zohar Melamed and Mike Hill. 

Qube recently opened a Dubai office, having registered there in August 2023, with eight 'authorised individuals' according to the Dubai register DFSA. Additional employees include former Millennium quant developer Wenzhen Du, who's not on the list, but relocated there from New York in January, according to the register.

Qube has also hired at least 32 employees across Hong Kong and Singapore this year. Senior hires include ex-Citadel quant developer Mengchi Jia, and Sahil Aggarwal, a former executive of Millennium spinout Worldquant. The most prominent, as we previously reported, was Citadel Securities' Francois Jeulin.

Qube declined to comment for this article, but it seems its hiring is nowhere near finished. It has over 100 job openings including for a wide array of traders, and developers using Python, C# and C++. It's also hiring interns in nine separate locations. Interns at Qube can earn around $12k per month. Qube also has a number of roles open in its crypto team.

Qube, as a young hedge fund, is also full of (relatively) younger employees. 74% of staff are aged 40 or under, and 38% of staff are aged 30 or under, according to its 2024 ESG report, published this month. 

Qube salaries and bonuses 

Accounts filed with Companies House suggests pay fluctuates. From 2019 to 2022, yearly profit rose and headcount steadily grew, but 'wages and salaries' per person doubled, then halved, then doubled again. 

Qube's 2024 ESG report stated that upwards of 40% of the firm's staff are part of a "deferred compensation plan" and have "exposure to the performance of funds managed by QRT." There are complaints online about non-competes that can seemingly be 9-10 months most of the time, but we have seen periods both higher and lower. Other funds, for reference, have non-competes that can go up to two years.

Qube describes itself as "a fertile ground for experimental research, fostering disruption and exploring new territories," and staff seem to appreciate the fertility. It's currently rated 3.9 stars from 5 on Glassdoor, with compensation and career opportunities being the key highlights of working there. It conducted an anonymous survey alongside its ESG report, where 90% of staff (from a 45% response rate) said their teams had good morale. It may suit some people more than others. "DNA is so utterly... French" says one review. French employees presumably see this as an upside.

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AUTHORAlex McMurray Reporter

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