Recruiting a Digital Options Trader
- Service Used Contingency Search
- Department Sales and Trading
Assignment Background
Our client, a digital assets hedge fund with a diversified approach to investing client funds into the crypto space has been recommended to us to assist them with identifying and recruiting a Head of Desk for Digital Assets Options Trading. We together explore the reasons for this search, identified that it was a replacement hire and we were looking for someone experienced who could oversee a team of execution traders.
The Search
Our headhunting process focused on identifying senior professionals from funds, brokerages and asset managers. Since the space is relatively small but scattered when compared with the traditional finance approach to options trading, we decided to levarage our network to ask for recommendations and look for traders who were known to trade on Deribit – the main crypto exchange where options are brokered.
Interviewing
After conducting in-depth interviews with over twentyfive options traders in the market, we identified five qualified and experienced candidates, and organised a series of interviews with the clients. The discussions lasted for several round during which time our team has liaised with both parties to receive and exchange feedback and explore remuneration expectations. We facilitated comprehensive negotiations ensuring alignment on the long-term vision for team.
Offer and Closing
By structuring a strategic plan, we secured a remuneration package that balanced competitive compensation with the resources needed to build a high-performing team. During these discussions it was also agreed the type of limits, risk and strategy the trader joining was to expect. In addition there were discussions facilitated by our team in relation to the leadership role and mentoring the team which was going to be led by the successful candidate.