Qube Research & Technologies (QRT) has been one of the very big hirers of the recent past. The quantitative hedge fund, which has $36bn of assets under management, employs nearly 2,000 people, most of them technologists. Soon, though, it may employ slightly less.
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QRT declined to comment for this article, but multiple sources say it’s been extracting employees. They are mostly in Singapore and some are said to be “high performers.” One day they were there and the next they weren’t. “There was no explanation,” says one insider.
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It’s not unusual for hedge funds to part company with people, including in their technology teams. Brevan Howard, for example, cut a few of its technology staff in September.
In light of its big hiring push, Qube’s move is curious, though. Two years ago, LinkedIn says it only employed 733 people. Now it has nearly 2,000. Last year, it opened a new office in Singapore. Maybe it doesn’t have enough seats?
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