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UBS's co-head of global rates trading went to the friendliest hedge fund

It may not be easy surviving and thriving at a hedge fund, but if you're going to leave a comparatively cosy banking job for a fund, there's one that's supposed to be nicer than others: Verition. And it's Verition that UBS's co-head of G11 short term interest rate trading has gone to. 

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James Regan announced his Verition move this morning. He's leaving UBS in London for a portfolio management role at Verition in New York, where he'll presumably be running a macro pod.

It's Regan's second stint in NYC. He spent nearly 14 years in the US city with Barclays, before leaving for UBS in 2018. UBS moved him to London in 2018, and he became co-head of G11 STIR trading in November 2020. 

Verition has a reputation as a friendly hedge fund "run by really nice people." Based out of Park Avenue, New York, and with offices in Connecticut, Dubai, Hong Kong, London, New York, and Singapore, it's been hiring globally.   Other recent portfolio manager recruits include Samir Choksy from Millennium in New York. 

Verition isn't the only smaller hedge fund still hiring from banks. Walleye, which has been cutting its discretionary macro team while building its systematic macro team, just hired Swyam Thacker from Goldman Sachs for systematic and discretionary macro research in New York and Jessica Vanquin from Citadel for as a systematic macro portfolio manager in London.
 
Walleye CEO Will England said last year that portfolio management jobs in hedge fund are inherently "psychologically toxic". "You're going to get kicked in the face a lot," England warned.
 

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AUTHORSarah Butcher Global Editor

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