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Hedge funds face increasing cost pressures due to heightened regulatory burdens and the need for advanced technology to enhance efficiency and client services. Outsourcing non-core activities is becoming a popular strategy to manage these costs, allowing firms to focus on investment performance and growth. The competition for talent is driving salaries to unprecedented levels, further complicating the financial landscape for these funds.
Hedge fund Citadel has strengthened its treasury quant team by hiring Tushar Singla from Goldman Sachs to lead its international operations in London. Singla, who spent nine years at Goldman, joins Mukunth Raghavan, his US counterpart, who was appointed last September. Both strategists are recognized for their strong communication and quantitative skills, reflecting Citadel's emphasis on these attributes, inspired by Goldman Sachs.
Adam Hoffman, a former student campaigner against wokeness, graduated from Princeton in 2023 and joined Citadel in 2024 before linking up with Elon Musk’s DOGE in 2025. Meanwhile, Barclays CFO Anna Cross is closely monitoring client returns, and investment banking vacancies are seeing a decline in remote work offers. In Paris, the financial sector faces layoffs as the market shifts, with Deutsche Bank planning to cut 2,000 retail banking jobs amid regulatory challenges.
Elon Musk’s Department of Government Efficiency has hired Adam Hoffman, a former assistant to billionaire Ken Griffin at Citadel, to assist in reducing costs within the US national security sector. Hoffman's recruitment is part of efforts to streamline operations in this area.
JPMorgan Chase & Co. is set to achieve a 30% increase in equities trading revenue this quarter, potentially surpassing its previous record of $3.3 billion. This surge contrasts sharply with the struggles of multistrategy hedge funds like Citadel and Millennium Management, which faced losses amid market volatility. While investment banks thrive, concerns linger over market uncertainty due to abrupt tariff announcements.
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