Compensation oversight: Balyasny, Elliott, Winton

The past year has been a good, fairly smooth one for Balyasny Asset Management’s European operations. Profits have increased almost 24 times. The pay hasn’t quite kept pace, but the boys from Dmitry to Blighty probably aren’t complaining much.

Last year, Balyasny spent £ 122million to pay his 94 UK employees (after deducting social security payments), which equates to an average payment of £ 1.3million (£ 1.8million). dollars) per head. That’s generous, even by hedge fund standards, and represents a 103% increase over Balyasny’s average salary in London for 2019.

May you also work in a reputable American hedge fund in London. But maybe your hedge fund didn’t make as much money as Balyasny. Indeed, maybe your hedge fund has even lost money. No matter:

The UK division of one of America’s leading activist hedge funds paid staff in London £ 113.3million last year despite recording a pre-tax loss after paying a fine of 13.5 million pounds sterling in France.

Salaries of just over 100 people at Elliott Advisors rose by more than 20% in 2020, while its three directors were paid £ 17.8million, up from £ 11.4million in 2019.

Well, in fairness sometimes that does matter.

Winton Capital Management Ltd’s income fell from £ 141million in 2019 to £ 66million in 2020. At the same time, the fund lost £ 8million last year, down from £ 32million. sterling a year ago. The workforce was reduced in response: the fund’s employees went from 230 in 2019 to 220 last year…. As Winton’s profits plummeted in 2020, payments have also been paid. The average pay per head of Winton’s 220 employees – many of whom are researchers and quants – was £ 185,000 ($ 254,000) last year, up from £ 197,000 in 2019.

The hedge fund Balyasny Asset Management doubled its remuneration in 2020 [efinancialcareers]
Elliott hedge fund staff compensation increased by one-fifth in one year [The Times]
Terrible year for hedge fund Winton results in downsizing [efinancialcareers]

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