As we mentioned last week, in the wake of the GLG buy, things are not looking so good inside Man Group. Redemptions are “mounting,” bonus outlook is bad to very bad and employees are making a dash for the exits. Today Financial News confirms the departures of 8 of the 15 front office employees who’ve taken off.
Chetan Kotwal, who was an algorithmic trading systems analyst at AHL, has joined Barclays Capital as a director in European flow trading technology, according to a person familiar with the situation. Barclays declined to comment.
Dr Helder Palaro, an academic who pioneered a hedge fund replication method with Dr Harry Kat, has also left, according to a person familiar with the situation.
Other more junior departures are Yochen Maydt and Steven Piron who worked in research, Tom Ryan and Rebecca Aston, both traders; Will England, an analyst; and Tobias Brandt, an algorithmic trading systems developer.
(a) Barclays declined to comment *because they don’t really have a clear idea who works for them, and (2) leaving, OK, but leaving for Barclays? What, is there a hiring freeze @UBS?
Man used and liked Barcap algos a lot for trading.