[ad_1]
There was excitement when Standard Chartered today revealed that it had increased its bonus pool to $1.6 billion because it was the largest in 15 years. However, Standard Chartered’s bonus pool is spread out to around 84,000 people. At hedge fund Citadel, about $600 million in bonuses have been allocated to just 20 portfolio managers.
buy morning coffee ☕ In your inbox. Sign up here.
That’s what Bloomberg’s revelation today that Citadel’s commodities team made $4 billion in profits last year suggests.
Citadel declined to comment for this article, but the hedge fund’s commodities team is believed to include 20 portfolio managers and around 200 support staff (the latter figure was obtained from LinkedIn) .
Hedge funds typically pay portfolio managers about 15% of their profits. Each portfolio his manager is responsible for allocating bonuses from payouts to his team. The $600 million will not be allocated equally, but based on each prime minister’s performance.
Citadel has doubled the size of its product team over the past three years and continues to hire. The team is led by Sebastian Ballack, who joined from Macquarie in 2017.
Citadel’s commodities team was well compensated last year, but the smaller team made even more money in 2022. That year, the fund’s commodity gains were $8 million.
Have a secret story, tip or comment you’d like to share? Contact: +44 7537 182250 (SMS, Whatsapp or voicemail). Telegram: @SarahButcher. Click here to fill out the anonymous form, or email editortips@efinancialcareers.com. Signals are also available.
Please feel free to leave a comment at the bottom of this article. All comments are moderated by humans. Sometimes these people might be asleep or away from their desks, so it may take a while for your comment to appear. Eventually it will – unless it’s offensive or defamatory (in which case it’s not).
[ad_2]
Source link
