Moving from CEE HF to London

Hi guys.

First, a little bit about my background: I'm a year two analyst at a long/short equity hedge fund (~$200-300m AUM) based in CEE (think Czech Rep./Poland/Hungary). We invest globally, though mostly in the US and regional (CEE) stocks. I got my position straight from the University, a top one regionally, although I know that it doesn't really help when compared to LSE and similar schools. Prior to that I have completed a couple of internships at several respectable local PE shops and and internship at an MBB firm (local office).

I am very well paid (it's just 5 of us here total in the investment team), get tons of responsibility and great learning experience at my current firm. However, as the local HF industry is quite limited in opportunities, I have been thinking about moving to London to further develop my career.

Here's where I could use some help: do you think I can have a shot at recruiting in London? For all of my HF career I have been almost exclusively covering stocks in Western Europe/US. Also, with a bit of help from my PM here and there, now I've got the investment process on my ideas practically run by myself (idea generation, research, execution and position maintenance). From the standpoint of being able to "do the job" I think I should be fine, however I am aware that coming from CEE/not having Oxford/Cambridge/LSE diploma/not having bulge bracket name on my resume can be a pretty big chip on my shoulder, which in turn would make it hard/impossible for me to get in front of the headhunters/prospective employers in the first place.

Could anyone give me a clue whether this idea is doomed or, if not, how should I try to approach it to have at least minimal chances of succeeding?

Thanks!

 

My wife is from the Czech Republic and we lived in London so here is my 2 pence. It's brutally difficult to break into a London HF without the traditional IB background. Even for guys who live in the UK and work in non-traditional roles it's tough. Given the pressure HF's are under with weak performance, declining fees, and redemptions, people just don't want to take a chance on someone who might turn out to be a dud. It's a lot easier to play it safe and take the guy with 2 years' LevFin or M&A at JP Morgan than take a chance on Jaromir Jagr from Praha Capital haha.

If you want to break into London you have 2 choices: get a job in IB in a CEE focused team and do 2 years there to gain some credibility, or, find a HF that focuses on the CEE region where your language skills will be important.

Also consider Brexit and the implications this may have on workers from the EU and specifically the CEE region. Just as an FYI, HF money in London is not all it's cracked up to be and you might end up facing a decline in living standards (purchasing power) coming to London if you're well paid in your current position.

 
Ovechkin08:
Just as an FYI, HF money in London is not all it's cracked up to be and you might end up facing a decline in living standards (purchasing power) coming to London if you're well paid in your current position.

When you say HF money is no all it’s cracked up to be in London, do you mean that the hedge fund scene in London is relatively week compared to the US? Or just that people in general think HF’s pay ridiculously high but obviously that’s not always reality?

 
Most Helpful

Rem laboriosam tempore quia. At optio velit itaque aut autem eos. Non sint natus ut eum porro. Praesentium non qui voluptatem non et.

Amet quia soluta exercitationem officiis. Doloremque qui exercitationem voluptatibus ut. Nisi amet sunt architecto et voluptatem.

Aut et ea omnis expedita explicabo aspernatur. Repellat porro laborum velit harum. Assumenda facilis illum ipsa dolor doloremque.

Tempore in voluptatem omnis dolores officiis provident amet. At vel et iusto molestiae quo autem. Ut sit architecto dolorem labore. Illum et commodi deserunt mollitia in rerum et. Sed sed rerum voluptatem. Quidem eos ea in voluptate et. Eveniet non rerum et sunt voluptatem.

Career Advancement Opportunities

May 2024 Hedge Fund

  • Point72 98.9%
  • D.E. Shaw 97.9%
  • Citadel Investment Group 96.8%
  • Magnetar Capital 95.8%
  • AQR Capital Management 94.7%

Overall Employee Satisfaction

May 2024 Hedge Fund

  • Magnetar Capital 98.9%
  • D.E. Shaw 97.8%
  • Blackstone Group 96.8%
  • Two Sigma Investments 95.7%
  • Citadel Investment Group 94.6%

Professional Growth Opportunities

May 2024 Hedge Fund

  • AQR Capital Management 99.0%
  • Point72 97.9%
  • D.E. Shaw 96.9%
  • Magnetar Capital 95.8%
  • Citadel Investment Group 94.8%

Total Avg Compensation

May 2024 Hedge Fund

  • Portfolio Manager (9) $1,648
  • Vice President (23) $474
  • Director/MD (12) $423
  • NA (6) $322
  • 3rd+ Year Associate (24) $287
  • Manager (4) $282
  • Engineer/Quant (71) $274
  • 2nd Year Associate (30) $251
  • 1st Year Associate (73) $190
  • Analysts (225) $179
  • Intern/Summer Associate (23) $131
  • Junior Trader (5) $102
  • Intern/Summer Analyst (251) $85
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Betsy Massar's picture
Betsy Massar
99.0
3
Secyh62's picture
Secyh62
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
dosk17's picture
dosk17
98.9
6
CompBanker's picture
CompBanker
98.9
7
GameTheory's picture
GameTheory
98.9
8
kanon's picture
kanon
98.9
9
numi's picture
numi
98.8
10
bolo up's picture
bolo up
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”