US to London Recruiting - Distressed HF
Was wondering if anybody has been through this process of recruiting at a london based fund while working at a US based fund. With all the shit going down in this country and the chances of trump getting reelected and making changes to the immigration rules, might be a good idea to look at other options as an international just in case things go south. Just started at a distressed fund that's willing to sponsor visa and stuff but want to keep my options open in a year or two.
Anybody know how to approach funds in london, which funds to focus on? Any recruiters to focus on? How structured is recruiting for distressed funds in london? Any info will help. Thanks
Hinton Rose (headhunters) are well connected. Keep in mind that Europe is not one jurisdiction like the US and that langage skills are very important
Thanks. Any others that I should focus on as well?
And things in the UK are stable?
Think he/she means they may not have the ability to work in the US after the first year OPI expiration where you get marching orders of whether you can stay in country or have to leave.
Exactly. I have 3 years for now and maybe more if I get picked in the lottery but trump getting reelected might change all of that
Do you get 3 yrs out of stem major?
I dont understand why the hurry. In 5 months you find out whether Trump is re-elected or not. Why start moving things around now if you have 3years even under the worst case Trump is reelected?
Focus on your current new job and wait at least until the election, is my advice.
I'm just asking to get around and do some research while I have some time before I start my job, just be prepared in case shit goes down so I have a list to attack, etc. instead of doing my research from ground up then.
Worst case if he gets reelected and does some shit with immigration visas, my 3 years can easily go down to just 1 year and expire next summer. I'll def wait until the election to even think about next steps in any case.
are you already at a distressed hedge fund in the US (or even distressed credit desk sellside. if so it’s not that hard to move across the pond. I did it, they love people with US training. much smaller market but if you focus on just the big funds the experience will be similar to the US.
if you’re in banking - idk. probably decently harder.
Yes, already at one. How did you approach the process? Was reaching out to HHs the way to go or was networking with people more effective?
HHs in general are pretty shit globally (some are good though), but in London they're even worse than the ones in the US with regards to just straight up ghosting you etc. Just to give you a sense - I have a super solid resume (top target + top banking group + top credit HF) and I still got ghosted by a bunch of HHs. They really suck. Hinton Rose is decently responsive and has a ton of mandates at the more junior level but the difficulty is convincing them to actually vouch and put you in processes. Because you're U.S. based - they will always sort of look at the local London talent first and then look at you (even if your resume is a better fit). I had a lot of strong sellside contacts in London from my US buyside exp. so I leveraged them for introductions and to keep an eye out for me. Some guys were much more helpful than others but in London I can definitely say networking through these qualified intros helps out a lot and even cold outreaches can get responses.
Following
Most seats are filled by (i) recommendations from prime brokers; (ii) poaching desk analysts who are good; and (iii) finally recruiters (Hinton Rose being a top distressed debt/credit recruiter in London). Smaller/cheap-skate funds may advertise on the JOBS portal of Bloomberg but generally reputable places use the 3 methods I have mentioned above. For real distressed players (say loan-to-own P/E style shops) restructuring experience and language skills (Italian/Spanish/German) are highly desirable. For more public market/event driven roles you can get by with English. Not impossible to make the move but given the shrinking number of seats and plethora of local candidates "chasing the dream" it will be hard to get a recruiter to go to bat for you.
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