Ex-UBS, JPMorgan quant is building a team at a prime broking firm in London
The last time we wrote about Andrea Bordoni it was 2021 and he'd just joined UBS as the global head of financing and delta quants after seven years at JPMorgan. Bordoni has left UBS and is doing something different instead.
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Earlier this year, he joined Hidden Road, the London prime broking firm purchased by Ripple for $1.25bn in April. He's understood to be building a team there.
Bordoni didn't respond to a request to comment for this article and Hidden Road declined to say anything. However, we understand that he is leading a team of quants supporting clearing and financing in London and is adding talent. Senior recruits are expected to be announced soon.
Hidden Road operates across prime brokerage, clearing and financing. It started life focused on FX but now operates across traditional and digital assets, including fixed income, foreign exchange, derivatives, and swaps. Accounts recently filed for the partnership in London say it generated revenues of nearly $11m last year and that profits of $500k were distributed between partners (down from $5m the previous year). Hidden Road employed 37 people in London in 2024 and paid them a total of $4m in wages and salaries, an average of $108k each.
Sources suggest that Hidden Road aspires to be the Jane Street of financing and point out that it's able to lend across multiple asset classes with a contemporary tech stack and without the regulatory constraints faced by banks. It has offices in London, New York and Singapore, but some of its people are thought to be remote.
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