A top London headhunter is under scrutiny for allegedly deceiving Wall Street traders into revealing confidential salary information by offering fake job openings at prominent banks like Goldman Sachs, according to a recent report.
Odin Partners, a UK-based financial recruitment firm, reportedly used false identities while cold-calling New York’s elite money managers, as detailed in a Bloomberg article. The firm purportedly offered non-existent positions in exchange for sensitive details about traders’ salaries, team compositions, and their desks’ confidential profit and loss statements.
Representatives for Odin Partners, including co-founder Mounaver Thomas, denied the allegations, labeling them as “false.” The firm stated they are in a dispute with those they believe are behind the claims and have been advised against public commentary on the matter.
The report indicated that Odin claimed to be recruiting for major U.S. firms such as Goldman Sachs, Citigroup, and Morgan Stanley, while also asserting connections with European banks like UBS, Deutsche Bank, Barclays, and BNP Paribas.
While Odin claims to gather information through legitimate interactions, it is alleged that some employees have also procured sensitive market intelligence using false identities. This practice, referred to internally as “rusing,” is described as misleading but was considered a “necessary evil” by some former staff members.
The company reportedly employs the gathered data for “market mapping,” identifying key players trading in significant asset classes ranging from rates to currencies. Allegations suggest that this private data was then presented to clients, disclosing previously confidential insights into competitors’ trading desk performances.
Major banks, including Citi, Morgan Stanley, and Deutsche Bank, have opted not to comment on the situation. Financial headhunters typically need to understand existing banker salaries and individual desk performance—two of the most closely guarded secrets in the banking world.
