This is a blog for undergraduates and young bankers who want to develop an investment banking career, and of course those who want to retire before 30. Let me ask you a couple of questions.
What do you expect to do at the age of 24?
In how many years will you turn 24?
I am going to tell you the story of Anthony Clake. At the age of 24, Anthony became a partner at Marshall Wace (AUM €7.9 billion), one of the largest hedge fund firms in Europe. By December 2005, his name appeared on the list of rising stars in London, published by Financial News, and he was the youngest among all.
Quote from Financial News
There's no better time to be young and working in financial markets. Callow youth is no longer a barrier to getting ahead: if you're good enough, you're old enough. Just ask our youngest rising stars, aged 24, or the two 26 year-old hedge fund partners. Read on for the definitive list of the young men and women on their way up. Those over 40, look away now.
Financial News publishes 100 rising stars since 2005. Anthony’s name appears on the 2005 and 2006 list. 2007 list is to be published in December.
See the FN’s selection criteria of the rising stars. This was all about Anthony Clark:
See Anthony Clake on the list: 20062005
Hedge fund prodigy
Partner, Marshall Wace
Age25
Anthony ClakeBreak through
Clake hit the jackpot when he joined Marshall Wace in 2001 after graduating from Oxford. He was made a partner last year.
Mentor
Company founders Paul Marshall and Ian Wace, although Clake works most
closely with Wace, a former head of trading at SG Warburg. The two designed the Tops, or Trade Optimised Portfolio System, in 2001 to analyse the recommendations from sales traders at investment banks.
Firepower
Marshall Wace is one of the largest hedge fund groups in Europe, with $7bn under management. This year, the firm raised $1bn in a day when it opened a new fund focused on North American equities and another $1bn when it opened the European Tops fund to new investors. It is looking to launch an Asian
fund.
Potential
Hard to assess. The question is whether he will stick around at Marshall Wace or set up on his own. Or whether he will retire before he is 30.
Anthony Clake – Bio
1980 Born
1999 Joint Marshall Wace
2001 Developed the TOPS together with Ian Wace
2004 Partner at Marshall Wace
2005 Nominated Rising Stars – FN
2006 Nominated Rising Stars – FN
Anthony Clake is a partner of Marshall Wace LLP and is a director of Marshall Wace Asset Management Limited. Having joined Marshall Wace Asset Management Limited in 1999, Mr Clake became a partner in September 2004. Mr Clake is the TOPS product manager and is primarily responsible for the day to day implementation of the strategy and the relationships with contributing service providers. Mr Clake oversees the strategy's trading activities and co-ordinates the risk management and optimisation of the TOPS portfolios. Mr Clake holds a B.A. (Hons) from The Queen's College, University of Oxford, in Philosophy, Politics and Economics and is a university prize-winner.
As of 31 December 2006, MWLLP managed in excess of €7.9 billion of assets.
Source: Investegate
Conclusion
If you plan to retire as early as 30, start an investment banking career today. I completely agree with FN that “Callow youth is no longer a barrier to getting ahead: if you're good enough, you're old enough.” I am going to introduce more successful young people in this blog. Enjoy reading.
Test of your investment knowledge
What is Marshall Wace TOPS?
Answer to my previous question: Hang Seng Index
Are you preparing for an investment banking interview? Check this ebook – IB Interview Guide
Investment banking career
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