Jobs in London, United Kingdom

A leading global hedge fund with approximately $35bn in AUM is seeking an experienced ETF Sub-Portfolio Manager to join a highly successful Delta One Senior PM in London. The role will work closely with a well-established, top-performing Portfolio Manager and will play a key role in alpha generation, risk management, and execution across global ETF and index-linked products. This is a high-impact position offering significant responsibility, strong visibility, and a clear pathway toward increased capital and autonomy for top performers.

• Act as Sub-PM within a Delta One pod, contributing directly to P&L generation
• Design, implement, and manage relative-value, arbitrage, and directional strategies across ETFs, futures, and index instruments
• Identify pricing inefficiencies between ETFs, baskets, futures, swaps, and underlying constituents
• Manage risk tightly, including intraday and overnight exposures, factor sensitivities, and liquidity constraints
• Partner closely with the lead PM on portfolio construction, idea generation, and trade structuring
• Work with execution, trading, and technology teams to optimize trade implementation and reduce costs
• Monitor market microstructure, flows, rebalances, index changes, and corporate actions
• Contribute to ongoing enhancement of models, tools, and analytics supporting the Delta One strategy

Proven experience in ETF trading at a hedge fund, proprietary trading firm, or top-tier investment bank. Strong track record of risk-adjusted returns as a trader, sub‑PM, or PM. Deep understanding of ETFs, futures, swaps, index arbitrage, and basket trading. Excellent risk management discipline and ability to operate within tight drawdown and volatility limits. Strong quantitative and analytical skillset; coding experience (Python, VBA, SQL, or similar) is advantageous. Ability to thrive in a fast‑paced, performance‑driven hedge fund environment. Entrepreneurial mindset with a collaborative approach to working within a pod structure.