Portfolio Manager – Global Macro Strategies
Location: London
The Mandate
We are partnering with a leading multi-strategy platform, with a compounded return history among the strongest in the industry, to place a Portfolio Manager who will build out a growing global macro business line from the ground up.
This is a build seat, not a seat where you inherit a mature book. You'll launch and refine macro strategies across global rates, FX, and equity indices from initial research through live trading, blending discretionary macro insight with systematic tools, and building a team of traders, strategists, QRs, and QDs around you as the franchise grows.
If you want a fully-built book handed to you, this isn't the seat. If you want unconstrained influence over a well-capitalized macro franchise you build yourself; strategy, team, and process, this is exactly that seat.
The Hard Questions (What You Will Solve)
- Strategy Buildout From Scratch: how do you launch and refine macro strategies across global rates, FX, and equity indices/baskets, taking them from initial research all the way to live trading?
- Asymmetric Idea Generation: how do you identify directional and relative value opportunities in DM rates and global equities — guided by positioning, catalysts, and valuations — that are genuinely asymmetric and flow-driven, rather than consensus trades?
- Quant & Fundamental Integration: how do you combine discretionary macro insight with systematic tools and risk management, working alongside quants and developers, to control drawdowns and sustain high Sharpe ratios rather than relying on conviction alone?
The Structural Edge
- Well-Capitalized Platform: a significant capital allocation behind a franchise the leadership team is actively investing in growing, not a token macro sleeve.
- Unconstrained Autonomy: real influence over how the franchise is built — strategy, hires, and process — backed by an entrepreneurial leadership team with genuine growth ambitions.
- Team-Building Mandate: the opportunity to build and mentor a team of traders, strategists, QRs, and QDs around your book, rather than operating as a single-seat hire within someone else's structure.
Ideal Profile
The Metric
- Track Record: minimum 2 years of positive PnL and a verifiable track record as a PM or SubPM in global macro, including building portfolios and delivering strong returns in top-tier principal risk-taking environments.
- Performance Quality: demonstrated ability to achieve strong risk-adjusted returns, maintain high Sharpe ratios, and control drawdowns through disciplined portfolio construction.
- Mindset: process-driven with an entrepreneurial mindset — comfortable building rather than just running a book, with excellent communication skills and high ethical standards.
The Tech
- Quant Aptitude: solid quantitative aptitude and familiarity with systematic tools, sufficient to genuinely integrate discretionary and quantitative approaches rather than treating them as separate tracks.
- Risk Management: strong handle on risk and volatility targeting, with disciplined use of quantitative tools and post-trade analysis to refine models.
- Collaboration: ability to work directly with quants and developers to enhance execution and research efficiency across the platform.
Compensation & Preferences
- Non-compete: standard market terms; specifics to be confirmed per candidate.
- Compensation: competitive, performance-linked compensation typically 20%+ of PnL, reflective of the platform's standard PM formulaic bonus structure.
This is not a guarantee of compensation or salary; a final offer amount may vary based on factors including but not limited to experience, domain expertise, and geographic location.
At Onyx Alpha Partners, we are committed to connecting the most sought after talent in the financial world, to opportunities that expand the universe of unconstrained performance within their chosen discipline. If this opportunity aligns with your career aspirations, we encourage you to apply and explore the potential for growth and unparalleled success.
Portfolio Manager – Global Macro Strategies in London employer: Onyx Alpha Partners
Onyx Alpha Partners is an exceptional employer, offering a dynamic work environment where innovation and analytical thinking are at the forefront. Located in the UK, we provide our employees with unparalleled growth opportunities, a collaborative culture, and the chance to shape the future of our rates options desk. Join us to be part of a team that values independence, creativity, and professional development.
