Doug shadewald
Is this guy a big deal? Business insider article reported he’s leaving Jane St and going to MLP
https://www.businessinsider.com/millennium-has-hi…
Several industry professionals familiar with the firm were surprised then to learn of the recent departure of Doug Schadewald, a senior trader who joined Jane Street nearly six years ago to help build an index options team. Schadewald, a math wiz and a star index volatility trader at Barclays, is now joining Izzy Englander's Millennium Management, the $61 billion hedge fund behemoth, as a senior portfolio manager, according to people familiar with the matter. He was being pursued by multiple firms, industry sources said.
Based on the most helpful WSO content, Doug Schadewald's move from Jane Street to Millennium Management is indeed significant. Here's why:
Jane Street Reputation: Jane Street is known for its quantitative trading and technology-driven approach to the markets. It's a highly respected firm in the trading community, and someone who has been a part of building a team there would have considerable expertise and experience.
Index Options Team: Building an index options team requires deep knowledge of derivatives, quantitative analysis, and risk management. These skills are highly valued in the finance industry.
Math Wiz and Star Trader: Being described as a "math wiz" and a "star index volatility trader" indicates that Schadewald has a strong quantitative background and a proven track record in trading, particularly in the complex area of index volatility.
Move to Millennium Management: Millennium Management is a well-known hedge fund with significant assets under management. A senior portfolio manager role at such a firm suggests a high level of responsibility and influence.
Pursued by Multiple Firms: The fact that he was being pursued by multiple firms highlights his desirability in the market and suggests that he is considered a top talent in his field.
In the high-stakes world of finance, such moves are watched closely as they can signal shifts in talent and strategy among leading firms. It's a testament to Schadewald's reputation and the potential impact he could have at Millennium Management.
Sources: The Big Swing | The Daily Peel | 6/7/2023, Douglas Harmon, Adam Spies Leave Eastdil for Cushman & Wakefield, Man, Movie Star, Mogul | The Daily Peel | 3/16/23, Moelis Wins Role in Saudi Aramco IPO, The Importance of Thinking Big
Yes
Any more color?
article says it's a weird move to go from barc -> JS, and again another weird move to go from JS -> MLP
Would seem like yes he's a pretty big deal....as for the article saying it's a "weird" move...I'm guessing the guy isn't sabotaging his own career and has done just fine for himself so it's probably best he doesn't take his career advice from journalists and recruiters anyways.
How was this guy running at Barclays "a S&P 500 and VIX derivatives portfolio, one of the biggest options books on Wall Street, which trades billions of dollars in notional value daily" after only a few year there, without much alpha research experience ? I mean, there were probably more senior people & competent guys above him waiting for that, no ?
This guy has a bunch of Bbg profile views in the past couple days - anyone have any color? blew up? made a bunch of money?
bbg with the scoop he’s getting sued by Jane st
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