Investment bank-based index traders are being targeted by hedge funds and energy trading firms as they look to cater for increased investor interest in opportunities across the commodities markets, according to a report by Bloomberg.
Investment bank-based index traders are being targeted by hedge funds and energy trading firms as they look to cater for increased investor interest in opportunities across the commodities markets, according to a report by Bloomberg.
Morgan Stanley, and Goldman Sachs both lost index traders to hedge funds last year with the former seeing Will Scott stepping down as global head of commodities index trade to join Verition Fund Management in November. Dan Deighton, meanwhile, the former global head of commodity index and agricultural products trading at Goldman Sachs Group Inc, joined Balyasny Asset Management a month earlier.
According to Bloomberg, hedge funds are actively seeking out traders who can work across a range of commodities markets, an in particular those who can employ trend models and quantitative strategies, having previously favoured ‘domain experts’.
