Even if you happen to lose your hedge fund job, it pays to exit gracefully and on the best terms. One reason is that while firms are quick to trim staff in a panic, they often realize they need the skills and expertise, and rehire later on.
Bloomberg reports that SAC Capital Advisors, a big Connecticut-based hedge fund run by Steven Cohen, hired back two of its London investment managers that it fired less than a year ago. Like many firms, SAC cut staff in a hurry after suffering investment declines and withdrawals in 2008, only to find they had to rebuild their London office as markets picked up steam this year.
The article quotes Clayton Heijman, founder and CEO of Darwin Platform, an Amsterdam-based provider of hedge-fund services, as saying: “The message is don’t burn your bridges and leave on bad terms. The hedge-fund universe is a very small community, and you never know when you may need your former employer again.”