Sovereign wealth fund with $1m+ salaries is leaking people to hedge funds

If you work for a hedge fund, your salary will typically be low and your bonus will typically be high. In the good times, it therefore makes sense to work for a hedge fund. In the bad times, it's better to max your salary elsewhere.

💥Follow us on WhatsApp for news alerts.💥

Given that these have been bad times for some hedge funds, it's interesting to note - then - that people have been leaving the most salary-maxxing employer in the market:  the Abu Dhabi Investment Authority (ADIA).

As we reported last year, ADIA pays salaries of $3m+ to its favourite people. Given current market conditions, it might seem a fine place to sit things out. Or not.

ADIA isn't commenting, but insiders at the fund tell us there have been exits. Many are from the systematic equities business, which focuses on data arbitration strategies.

The exits include Sébastien Andler, a senior quant who joined ADIA from BNP in London in 2022. Andler left for aeonea, a new Hong Kong-based multistrategy hedge fund in December. Patrick Yam, another senior quant, left for Jane Street in March. We understand that at least another two departures are in process, with people reportedly leaving for Millennium and Schonfeld. 

Insiders said ADIA has become a good training ground for stat arb talent.

In light of the war, it's thought that people at ADIA are working from home. Last month, Marcos Lopez de Prado, one of ADIA's top quants declared that he felt fortunate to be located in the emirate. It's thought that many of ADIA's senior people have asked their families to relocate elsewhere. 

Have a confidential story, tip, or comment you’d like to share? Contact: +44 7537 182250 (SMS, Whatsapp or voicemail). Telegram: @SarahButcher. Signal: sarahbutcher.22  Click here to fill in our anonymous form, or email editortips@efinancialcareers.com. 

Bear with us if you leave a comment at the bottom of this article: comments are moderated intermittently by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. You must take sole responsibility for comments you post on this site. We will take reasonable steps to weed out anything that we consider to be offensive or inappropriate.