Portfolio Manager willing to move to NY
Hi all,
My inquiry might be a little different than most here but i would be thankful with any input anyone might give.
I am 43, founder, owner and Chief Investment Officer of a small globally oriented long short equity fund based in Rio de janeiro, Brazil ( Brazil does have a somewhat vibrant financial and hedge fund community although obviously very small compared to the US)
Over the years my fund earned respect locally: i was profiled several times in the country´s most important financial podcast, our fund was listed by Preqin in 2017 as one of Latin America´s most profitable, i hold a CFA designation and am an active member in the local CFA community, etc. So i do think i can say i have not wasted my career so far.
At the same time, my fund never got traction: its AUM is currently around $ 20-25 million and i do think i could earn more money if i relocated to NYC ( i lived in the city before and woudn´t mind relocating) With the global increase in regulatory burdens ( having to hire a back office analyst, etc) my company is now at a point where i pretty much no longer gain almost any income managing the fund.
I am 43 years old, not married and would be willing to relocate for the right opportunity. At the same time, I have never worked in Wall Street and really don´t even know where to start/ who to talk to / what I could expect financially.
If you were in my shoes, what would you guys do? At what range do you think i could aim financially speaking and which institutions would you approach and how?
Any help/thoughts would be much appreciated.
CFA from Rio
Based on the insights from Wall Street Oasis, here's a strategic approach you might consider for transitioning to New York City's financial sector:
Leverage Your Experience and Network: Given your successful background and recognition in the Brazilian financial market, it's crucial to leverage your existing network. Connect with fellow CFA members who have ties to NYC or international experience. Networking can open doors and provide valuable insights into the NYC market.
Research and Target Firms: Identify firms in NYC that have a focus on global or emerging market investments. Your experience in a globally oriented long-short equity fund could be highly valuable to firms looking to diversify or strengthen their portfolios in Latin American markets.
Consider the Role and Compensation: At your level of experience, you could be looking at senior roles, possibly at the director level or above. Compensation in NYC can vary widely, but for someone with your background, it could range significantly based on the firm, role, and your negotiation skills. Research typical compensation packages for similar roles on platforms like Glassdoor or Payscale.
Prepare for Regulatory Differences: The regulatory environment in the U.S., especially in NYC, can be more stringent. Familiarize yourself with the necessary compliance and operational requirements. This knowledge can make you a more attractive candidate and ease your transition.
Utilize Professional Services: Consider engaging with a headhunter or recruitment agency that specializes in finance and investment banking. They can provide guidance, market insights, and access to opportunities that might not be publicly listed.
Plan Logistically: If you decide to move, consider the logistics including visa requirements, housing, and the cost of living in NYC. Planning these in advance can help you make a smoother transition.
By following these steps, you can strategically position yourself for a successful move to NYC's dynamic financial sector.
Sources: Money - What is your goal?, Advice on career and the switch into investment banking, To Those Who's Had A Successful Career In CRE, What Advice Do You Have For Younger Generations?, Q&A - Analyst at $1.5B Endowment Fund, Target --> Homeless --> HF? How
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