Schonfeld, the top-performing multi-strategy hedge fund of 2024, which has outpaced rivals including Citadel and Millennium so far this year with a 13.1% gain, is continuing with a hiring push after growing its headcount by 11.2% YTD, eFinancial Careers.
The report cites recent SEC filings as showing that the firm employed 952 staff by mid-September, up from 952, with the majority of the 94 new hires investment and advisory roles, which grew by 21.3% from 310 to 376 people.
The growth marks a significant turnaround from late last year when the firm announced it was cutting its workforce by 15% in the wake of a failed investment. Partnership with Millennium.
And the hiring momentum continues, with Schonfeld reportedly having around 30 open positions in August with that number having subsequently increased to 43 including five internships. The firm is particularly focused on recruiting quants, with nine full-time openings for quantitative researchers, developers, and strategists in its London, Dubai, and Hong Kong offices. There’s also a quantitative research internship available in New York, offering up to $4,200 per week in salary.
In addition to expanding its investment team, Schonfeld is building out its technology capabilities. The firm is hiring technologists to develop its generative AI platform, ‘SchonGPT.’ It’s currently seeking a lead engineer with expertise in UI and UX to spearhead the development of this platform and other internal tools. Schonfeld is not alone in this venture; competitors like Balyasny have also been exploring similar AI initiatives with their proprietary ‘BAMChatGPT.’
