Traded FX at a top bank for 2 years. Options?
I've traded spot FX at a top bank (hard to say on a desk-by-desk basis, but think top 3 banks in general terms) for two years and I'd like to move on - not a huge fan of the flow aspect and would rather take longer duration positions or focus on broader themes.
What are the realistic options I have? I'd like to trade/be part of a macro team at a HF or asset manager, but that world seems relatively opaque to me and the same headhunter channels don't seem to exist as they do in banking.
Headhunters do exist but do you have a network you have developed you could reach out to for possible opportunities?
Also, side note, how did you get the fx trading position? Interested.
Network isn't much after 2 years since client interaction is pretty minimal at that point.
As for how I got it - regular recruiting. Went to a target school, had a good GPA/resume, and a desirable degree for trading (along the lines of engineering), interviewed, and got it.
Global Macro hasn't really done well for anyone recently. Everyone is downsizing and investors are pulling out (e.g. Clarium)
The HF business model is becoming senile.
You're absolutely right about global macro. Business from those guys has been extremely slow for a year and a half now.
What sort of trading in fx did you do? automated? discretionary?
Do you have your resume out with recruiters?
Flow trading, with discretionary whenever I wanted to.
I don't have a resume out with recruiters.
I know that 90% of our hires come from recruiters. So that might be an option to explore. I wish I could be more helpful. Good luck in your search!
on the rates side of things all the guys i have seen go to macro funds to trade were sr traders that were consistent money makers. basically they dealt with all the top funds daily and the funds already knew who they were, a recruiter didnt matter they were contacted directly. this holds true for everyone ive seen move outside of 1 junior hire.
I've been in a similar role trading spot at a smaller bank for a year and most of the guys that did my job before me moved onto prop trading firms, HFs, or switched to trading FX options. Almost everyone knows everyone in FX and if you're at a top-3 FX desk then you're already a counter party to every major macro fund as it is. If you have a good track record/rep on the street then your potential opportunities should be pretty apparent with a little bit of networking.
FX options if that is of interest to you.
You probably arent going to get an actual job running money at a hedge fund after two years of FX market-making, but you certainly would be a good candidate to be a desk analyst or an execution trader. Headhunters are available that would be happy to talk with u if u spend some time finding them.
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