Hedge fund DE Shaw pays enough to make your eyes water
D.E. Shaw & Co., the quant hedge fund founded by the enigmatic David E. Shaw, has released annual accounts for DE Shaw & Co. (London) LLP, its London partnership, and for D.E Shaw & Co. (UK) Ltd, its London limited company. They suggest that working there can be very lucrative indeed.
In the year ending March 2022, D.E Shaw & Co. (UK) Ltd. employed 69 people (up from 66 one year previously), who shared a £39m pot for “wages and salaries”. That comes out to £563k ($685k) each.
This was lower than the previous year, though, when the 66 staff shared a £40m pot to the tune of £608k ($740k) each.
At DE Shaw's London partnership, three partners shared £51m in the year to March '22, down from £78m the previous year. One partner alone received £47m.
Who are D.E Shaw's lucky partners? They include Julius Gaudio and Neil Cosgrove. Gaudio joined the Shaw group 30 years ago – fresh out of Harvard economics – and serves on the company’s executive committee. Cosgrove, meanwhile, opened and built Shaw’s London office, and spent 20 years at the firm before leaving in April 2022.
The partner receiving the largest share is, however, likely to have been D.E Shaw & Co. (UK) Ltd, which (confusingly) is third partner at DE Shaw & Co. (London) LLP. D.E Shaw & Co. (UK) Ltd is itself owned by DESCO LP, the New York-based partnership run by David Shaw.
D.E. Shaw is the great grandaddy of quant hedge funds, having been launched 1980s, pioneering many aspects of algorithmic trading. The founder returned to the world of science in 2001, founding D.E. Shaw Research (which he still heads).
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