Traders Who Left Banks for Hedge Funds Heading Back to Banks
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Trump administration could rewrite some Dodd-Frank regulation
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Low liquidity and volatility means hard slog for macro funds
Traders who fled banks for hedge funds are on their way back to Wall Street.
This month, Barclays Plc hired Chris Leonard, a founder of two hedge funds in the decade since he left JPMorgan Chase & Co., to turn around U.S. rates trading. At the end of last year, ex-bankers Roberto Hoornweg and Chris Rivelli, both of Brevan Howard Asset Management, left that London hedge fund for banks.
Recruiters say these moves and others aren’t just the usual attrition: banks in New York and London are interesting employers again a decade after the financial crisis, and may get involved in more proprietary trading if President Trump eases regulatory burdens. There’s also another factor: many macro funds just don’t make money anymore…
Traders Who Left Banks for Hedge Funds Heading Back to Banks
