New launch down >500bps, >100% turnover
Hi, I joined a new L/S launch and the team is down 500bps. PM churned through the entire team within the first 7 months. Capital was cut, but somehow the book is still alive. How much longer do I have?
Oof tough spot. Is this a completely new PM..?
Did others leave because of performance / were fired..? I mean to fire a lot of analysts within the first 7 months kind of implies the PM is at least equally not good at this
Your options:
1) Stay with this team and hope for the best
2) Try to talk to management, not about your current situation, but if you can develop a good enough relationship with one or two people from central management that can be extremely helpful if you eventually need to find another team internally.
3) Look externally. Talk to BD at other firms and/or headhunters. I would frame it as intro conversations for now and see where the team is in a couple months..
I would do 2 & 3 if I were you.. in general it's a good idea to keep those leads warm but in your case it is especially smart.
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