Can new PMs hire analysts from their previous HF?
Very briefly, my direct boss is leaving our HF to a platform (Citadel, Millennium, P72 etc).
He is now doing interviews to form his team there and I would be happy to join him.
He haven't suggested me anything so I'm thinking to take initiative and suggest it myself.
My question is, would he be allowed to hire me? I'm thinking he probably has a clause with my current employer forbidding this or even his new HF wants him to create a team from scratch.
thanks,
Are you sure he wants you to come along?
No, can’t be 100% sure, but his performance reviews the last years give me no reason to think he doesn’t want me to join.
I’m thinking if he can’t hire from my current HF, if he doesn’t want to screw the fund (he was a founding partner)… Things like that.
Another possibility could be he thinks he can hire better talent there, but not sure if that is really better than having an analyst you have been working with for years
Fair. And yes, if it's a big name fund you guys were at, chances are there is a non-solicit.
read your contract. Does it have a non-solicitation clause ? If not, most probably your ex-boss doesn't have one as well, so its safe to approach. Otherwise, you need to wait for the non-solicitation period to expire before reaching out.
I don't have it. I don't think it necessarily means he doesn't, as he is more senior and a partner
Why don't you just ask him yourself?
Don't want to let him know that I'm looking to leave if I 100% know that he can't hire me.
Will ask him to have a "mentor" type of conversation and see how it goes. May ask him staightforward
He's leaving the firm, so he has no incentive to tell anyone else what you told him. Totally fine to ask him straight forward. Regardless of what his official written agreement says, just basic decency and respect for his former colleagues means he probably won't ask people to follow him...but if you're the one to bring it up, then that makes it a bit easier. At the very least he might tell you "not yet, but wait six months and then call me".
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