About Boussard & Gavaudan
Boussard & Gavaudan (BG) is an independent alternative asset management group founded in 2002, with teams in Paris, London and New York. BG manages AIF and UCITS strategies and combines deep investment expertise with a strong technology and risk-management culture.
BG is strengthening its Global Macro team as it develops a dedicated discretionary macro strategy investing across
global rates, FX, equity indices and commodities. The team operates in a compact, highly collaborative structure with direct exposure to portfolio construction, market implementation and risk management.
The Role
We are looking for a Macro Execution Trader with strong foundations in interest rates and a genuine interest in crossasset trading and derivatives, including options, to join the Global Macro team and work directly with the Global Macro CIO / Portfolio Manager. Execution is at the core of the role: the successful candidate will help implement discretionary macro positions across rates, FX, equity indices and commodities, primarily for the Global Macro strategy, while being fully integrated into BG’s broader trading platform.
We welcome candidates from a range of trading backgrounds, including rates traders looking to broaden their expertise across asset classes and options, sell-side market makers, buy-side execution traders, FX or derivatives traders, and strong junior profiles from trading or structuring desks.
The ideal candidate combines solid market foundations, strong execution skills or potential, and a genuine ambition to develop into a versatile cross-asset trader. The successful candidate will benefit from BG's broader trading expertise and can grow into a key long-term contributor to the Global Macro strategy.
Key Responsibilities
• Execute and implement macro positions across all major liquid asset classes, including rates, FX, equity indices and commodities.
• Take primary responsibility for rates and rates-options execution, including government bonds, futures, swaps, swaptions and option structures, while progressively developing strong cross-asset execution capabilities.
• Work closely with the PM on trade implementation, instrument selection, execution strategy and, as experience develops, position sizing and risk/reward optimisation.
• Monitor markets continuously and identify relevant changes in pricing, liquidity, volatility, positioning, relative value and market microstructure.
• Provide constructive challenge on implementation and sizing while maintaining clear PM ownership of investment decisions.
• Monitor execution risk, portfolio exposures and liquidity in coordination with the team’s quantitative analytics and internal risk tools.
• Maintain high-quality relationships with counterparties, sales teams and execution desks across rates, FX, equities and commodities.
• Optimise trade execution through effective counterparty selection, price discovery, liquidity assessment and transaction cost awareness, with particular attention to complex and less standardised derivatives.
Candidate Profile
• Typically 1–4 years of relevant experience in trading, market making, execution, sales trading, derivatives or trading-desk analytics, gained at an investment bank, asset manager, hedge fund or proprietary trading firm. Exceptional junior candidates will also be considered.
• Solid foundations in interest rates and financial derivatives, with experience in swaps, futures, government bonds, swaptions or options considered particularly valuable.
• Strong motivation to develop cross-asset execution capabilities across rates, FX, equity indices, commodities and options.
• Interest in volatility, convexity, relative value, liquidity and institutional execution; prior knowledge is a plus.
• Comfortable in a demanding market environment and keen to grow from execution into broader implementation responsibilities.
• Professional proficiency in English is required; French is useful but not mandatory.
What We Value
• Integrity and discretion: Trusted with sensitive positions, investment views, counterparties and confidential information.
• Energy and market engagement: A genuine interest in financial markets, what is moving them and the implications for the portfolio.
• Analytical rigour and attention to detail: Strong analytical skills, sound judgement and accuracy in execution and monitoring.
• Communication and collaboration: Clear communication skills and the ability to work constructively in a compact, highly collaborative team.
• Low ego and team spirit: Able to challenge constructively while respecting a clear investment decision framework.
• Curiosity and ambition: Keen to understand the macro rationale behind positions, learn quickly and grow with the strategy.
Team and Opportunity
The trader will join a compact team spanning portfolio management, trading / implementation and quantitative analytics / risk. Primarily dedicated to Global Macro, the role is fully integrated into BG’s broader trading platform and offers broad cross-asset execution responsibility and a clear path to increased responsibility as the strategy scales.
Why Join
• Direct involvement in cross-asset execution, portfolio implementation and investment discussions.
• Exposure to sophisticated cross-asset and derivatives-based strategies.
• A small, demanding and collaborative team where contribution is immediately visible.
• The opportunity to grow with the fund and take on increasing responsibility.
LEGAL NOTICE
Response to asterisked questions is compulsory, and failure to do so may adversely affect the fate of your application. Response to non-asterisked replies is optional and will not affect the treatment of your application. Our recruitment procedure comprises one or more personal interviews. The data collected will be treated confidentially and securely, for the purposes of managing recruitment at Boussard & Gavaudan. It will be used strictly for internal purposes and only authorised employees of the firm will have access to it. We remind you that you can access your information, have it corrected or have it deleted. If you wish to do so, please contact bg.gdpr@bgam-fr.com .
