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Strategies & Market Trends : The Final Frontier - Online Remote Trading

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From: TFF2/15/2005 4:20:50 PM
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Derivative Traders Jumping To Hedge Funds

February 15, 2005
Hedge funds are winning the battle against banks for highly sought-after credit derivatives traders, recruiters and bankers tell Reuters. Among the hardest-hit are Bank of America, Goldman Sachs, JPMorgan Chase and the Royal Bank of Scotland.
One European head of credit market-making told the wire service, “Compensation-wise, banks can't compete and we have seen a lot of leakage of staff, with the American houses worst hit.” Derivatives traders can make up to $10 million in salary at a hedge fund, where some recruiters claim the working environment is better, compared to only $2 million at the biggest banks.
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