D.E. Shaw was started by David E. Shaw in 1988, after the Columbia professor (comp sci) left academia (1986) for Morgan Stanley. The privately held investment firm has long had a reputation for being both mysterious and heavily quantitative (although they do have a qualitative analysis practice). Shaw is no longer involved in the day-to-day operations of the firm.
The firm had $34BN in investment capital as of January 2008 and offices in New York, London, Silicon Valley, Houston, Kansas City, San Francisco, Washington D.C., and Hyderabad, India. Lehman Brothers purchased a 20 percent stake in the company in 2007.
The firm has continued to expand its private equity activities; in 2004, DE Shaw bought FAO Schwarz.
D.E. shaw is apparently known for some pretty nice Christmas parties; last year’s was at Cipriani’s and featured Blue Man Group. D.E. Shaw had 1,300 employees as of January, 2008.
Recruiting
Hiring is “extremely selective,” and if don’t have a PhD, or otherwise find yourself an odd man out here — among a 2003 U.S. Women’s Chess Champion, a Life Master bridge player, and a Jeopardy winner — then why not just save yourself the trouble.
Interested applicants can submit info online or to recruiting-inquiries@world.deshaw.com. Below are excerpts of two generalist positions within the firm. A list of postings at Jobs.Phd.Org are intimidating, though a listing for “brilliant graduates” with “Absolutely no previous Human Resources experience is required, as we are more interested in raw talent and an outstanding record of academic or professional achievement than in a specific work history. Members of our HR department are responsible for precisely and creatively handling tasks related to employee benefits, training, relocation and immigration, while exploring new ways to reinforce our extraordinary culture and maintain our unusually high rate of employee retention” looks easy enough.
FYI, “Strategic Growth” growth is recruiting. Applicants to D. E. Shaw India Software Private Limited’s (DESIS) Hyderabad office can find out more here.
Generalist Associate
We are seeking individuals with an extraordinary record of academic and/or professional achievement to support the firm’s investment management and scientific research activities. Generalist Associates work in a variety of departments, including Investor Relations, Corporate Development and Strategic Growth (which manages the firm’s highly selective recruiting) or participate in a rotational Associates Program that enables a new hire to move through four departments during the first sixteen months of employment in order to get a broad introduction to our firm’s operations. While we would certainly welcome applications from individuals with a background or interest in mathematics, computer science, or economics, we are equally interested in speaking with brilliant liberal arts graduates, regardless of major, who are open to the possibility of a career they may never have previously considered. We neither require nor expect any previous financial experience. Ideal candidates are critical thinkers and effective communicators who have demonstrated remarkable talent in their previous endeavors.
Analysts (full-time and internship)
The firm seeks analysts for investment selection and transaction support/execution for a variety of strategies. Responsibilities can include: generating investment ideas; performing initial investment/trade reviews; doing business, financial, and industry research and diligence; financial modeling and valuation analysis; structuring, negotiating and documenting transactions; monitoring investments and portfolio performance; drafting valuation and company reviews; and managing realizations. The ideal candidate will have gained hands-on training and experience in an investment bank or private equity firm. We are looking for a minimum of 2-3 years of M&A, corporate finance, leveraged finance, or buy-side investment experience, or 1-2 years of experience plus an MBA. Expertise in a particular industry is not required.
