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Full timeOperations & Project Management

Developed Markets Rates Portfolio Manager / Trader

eFinancialCareers Sourcing ServicesLondon🇬🇧United Kingdom

Why this role stands out

This role offers you the opportunity to directly impact a global macro hedge fund's strategy by managing a dedicated Developed Markets Rates portfolio and shaping risk decisions. You will thrive here if you are an experienced PM/trader eager to develop high-conviction views and act as a key specialist in a flat, collaborative environment with significant responsibility. Apply now to take ownership of a central seat and contribute to high-conviction rates positions.

Quick overview

SeniorityMid Senior
Employment typeFull Time
Work modeOn Site
LocationLondon, United Kingdom

Job description

Developed Markets Rates Portfolio Manager / Trader

London | Global Macro Hedge Fund

About Us

We are a ~$4bn global macro hedge fund with offices in London and New York and a ten-year track record. Our franchise is built on emerging-market macro, both discretionary and systematic. We run a CIO-and-PM model — not a pod shop, not a multi-manager model. The organisation is deliberately flat, with significant responsibility, direct interaction with senior management.

We are looking to add an experienced Developed Markets Rates Portfolio Manager / Trader to our London investment team. The role is in office.

The Role

We are hiring a DM rates PM/trader to run a dedicated developed-markets rates book. This is a central seat: DM rates are central to risk decisions the fund makes, and we want the person who owns that view — the reference point and voice of reason on rates in risk discussions. You will run your own P&L, help hedge the broader portfolio, and be part of the team when we run large, high-conviction rates positions. Equally, this is not a pure execution or strategist position.

Responsibilities

  1. Run an independent DM rates portfolio across major developed markets.
  2. Generate differentiated P&L for the Fund through relative-value and/or directional rates strategies.
  3. Develop and communicate high-conviction views on global rates, curves, central banks and monetary-policy regimes.
  4. Act as the firm's principal specialist on Developed Markets rates in daily investment discussions.
  5. Trade and execute rates positions across cash, futures, swaps and options.
  6. Have a strong practical understanding of swaptions, volatility and rates derivatives.
  7. Analyse market positioning, flows, investor exposures and relevant quantitative positioning indicators across global rates markets.
  8. Contribute to the design and implementation of DM rates hedges for the broader portfolio, distinct from the individual's own risk book.
  9. Work closely with the CIO and senior PMs on occasional large, high-conviction rates opportunities where the firm may deploy substantially greater risk.
  10. Maintain strong relationships with dealers, strategists and other market participants across the global rates ecosystem.

What We Are Looking For

Candidates are likely to have approximately 5–20 years of relevant experience and may currently work in:

  1. a global macro or fixed-income hedge fund;
  2. a leading investment bank rates trading business;
  3. a major asset manager or other established institutional rates platform.

We care more about demonstrated judgement and market understanding than a particular career path.

Why this role is different

For the right person the draw is autonomy, intellectual influence and direct access to senior risk-takers inside an established EM macro franchise. There are no other DM rates PMs within the Fund so there is scope to build out a profitable business line.

eFCSoSe

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