Recruitment of traders and portfolio managers for a proprietary investment fund

Elen Muradian

Last updated on September 1, 2025 | 17 min read

Finding top-tier traders isn’t just about skill; it’s about risk management, decision-making speed, and adaptability. In this project, we partnered with a proprietary investment fund seeking individuals who could demonstrate sharp instincts and a proven trading track record. From virtual account trials to portfolio deep-dives, every step demanded precision and insight.

Client Profile

Proprietary trading firms are structured around measurable performance, with success defined by return on capital, Sharpe ratio, and consistent monthly P&L. Unlike traditional asset managers, they use internal capital and grant traders autonomy in execution, offering freedom alongside high expectations. Traders must outperform benchmarks while staying within strict drawdown limits and risk controls, with performance monitored via real-time dashboards and regular evaluations.

The environment is intensely meritocratic, with compensation and career growth directly tied to trading performance. Clear KPIs, including monthly and annual P&L, Sharpe ratio, drawdown levels, and adherence to risk limits, guide evaluation. Real-time dashboards and periodic reviews assess not just gross returns, but risk-adjusted results and consistency. Recruitment focuses on identifying rare talent capable of independently generating returns while managing risk.

The client was a privately held proprietary fund with a focused, mid-sized team trading short- and mid-term discretionary strategies in liquid markets like forex and equities. Rather than scaling quickly, the firm prioritized selectivity, hiring only candidates with clear, repeatable edges. This meant consistently generating risk-adjusted returns above market benchmarks (Sharpe ratio >1.8 over at least 18 months), with strategies that were explainable and systematic. This lean model meant they lacked the internal resources for a time-intensive, global talent search. Ideal hires had proven portfolios and could operate in a low-structure, high-autonomy environment.

To assess real-world ability, each shortlisted candidate submitted a historical track record and completed a virtual trading trial. This process revealed decision-making patterns, risk appetite, and discipline under simulated market conditions. Professional forex traders conducted structured interviews based on a defined rubric, covering technical analysis, risk management, execution, and the ability to explain trading decisions under pressure. Candidates were also judged on adaptability, capital preservation, and position sizing. The combined trial and interview process ensured a thorough evaluation of both skill and mindset.

Highlights:

• Privately held proprietary trading firm with a typical hiring ratio less than 1% of all applicants.
• Focused on short-term and mid-term discretionary strategies in liquid markets.
• Collaborated with DevsData LLC to vet traders through virtual account trials and portfolio evaluations.

Challenge: Niche talent, high stakes

The client’s recruitment standards were exceptionally high. They were not looking for generalist financial professionals or junior-level traders to train up. Instead, they needed independent, self-directed portfolio managers with a real track record; people who could immediately prove their edge through past performance and hit the ground running with minimal oversight. Each hire had to meet strict criteria, including profitable portfolios, disciplined risk management approaches, and strong alignment with the firm’s discretionary trading philosophy. Meeting these demands called for an intensive, multi-layered screening process capable of narrowing the pool to only those with proven performance, sound judgment under pressure, and the ability to operate autonomously from day one.

Speed was also a critical factor: Each week of delay meant a tangible opportunity cost, estimated at 2–3% of potential monthly P&L. Despite their selectivity, the client was under pressure to scale the team to take advantage of emerging market conditions. At the time, increased volatility around interest rate decisions and earnings season created a narrow window for high-return trades in both equity and fixed-income markets. Any delay meant missed trades, missed revenue, and increased opportunity cost. DevsData LLC was brought in with a clear mandate: Identify and deliver multiple highly qualified candidates in a matter of weeks.

“Meeting both the technical demands and the tight timeline would require a deeply targeted, high-touch recruitment approach, leveraging specialized networks and domain-specific knowledge from day one.” – Nenad H., Tech Recruitment Lead at DevsData LLC

Goals

The fund’s primary objective was to bring on high-performing traders and portfolio managers capable of delivering immediate, measurable results. Unlike traditional financial institutions with structured training pipelines, this client operated a lean model, expecting every new hire to execute independently from day one. Candidates needed to present a live or historical portfolio demonstrating strong risk-adjusted returns (Sharpe ratio >1.8).

Beyond pure performance, the client sought individuals who could thrive in a decentralized environment with minimal managerial oversight. Ownership mindset, intellectual discipline, and long-term thinking were essential qualities. Just as important was their ability to navigate ambiguity, make autonomous decisions, and maintain consistency under pressure. Our task was to find rare profiles who could balance quantitative rigor with discretionary insight, without compromising on character or fit.

The challenge extended beyond candidate discovery. We were brought in to create a structured, reliable hiring process that filtered out noise and delivered results at speed. The goal was to present multiple qualified candidates within a matter of weeks, while maintaining the strict qualitative standards for which the fund was known.

Candidate Requirements by Role

Our Approach

To meet these demands, DevsData LLC deployed a recruitment team with experience in financial roles and high-pressure technical environments. We began by mapping the landscape of proprietary traders and portfolio managers across regions with active forex and equities trading ecosystems. We focused our mapping on key hubs like London, Warsaw, and Singapore to ensure access to a global talent pool. Our initial filters targeted those with verifiable track records, low drawdowns, and a clearly articulated trading methodology.

In parallel, we activated specialized sourcing pipelines, leveraging our internal database of over 65000 pre-vetted professionals – candidates whose trading performance, strategy fit, and compliance background had already been verified – and a curated list of high-performance trading communities, alumni networks, and niche Discord and Slack groups. We also collaborated with two external consultants with professional forex trading backgrounds, who supported the process by evaluating candidates’ live trading simulations, reviewing historical trade data for accuracy and consistency, and assessing the robustness of their risk management strategies. Their expertise ensured that only candidates with demonstrable skill, discipline, and strategy resilience progressed to the final stages. This dual-track approach helped us maintain a balance between quality and throughput.

To overcome difficulties in the evaluation process, we established a process that could reliably simulate real-world trading conditions and assess both technical competence and psychological resilience. The client required a high-stakes, multi-stage vetting system capable of filtering out all but the most qualified candidates. To meet this demand, DevsData LLC had to create a custom assessment framework that included tasks such as submitting detailed trade histories, participating in live strategy walkthroughs, and completing a virtual account trial replicating dynamic market conditions. These simulations tested not only the soundness of each candidate’s approach but also their adaptability, risk management skills, and ability to communicate their decision-making clearly under pressure. Developing and coordinating this rigorous process was a key challenge, especially given how few professionals were capable of meeting such high standards, and the fact that traditional recruitment pipelines had already proven ineffective.

Our prior experience supporting a major financial institution with a similarly rigorous recruitment model helped us anticipate the client’s high selectivity and technical expectations. In that project, we built and executed a multi-step hiring process for senior quant and finance engineering roles, managing complex assessments and delivering top-tier candidates under tight deadlines. Those insights directly informed our approach here: From structuring the evaluation rubric to pre-qualifying candidates with verified performance data.

Candidate outreach emphasized transparency and precision from the first contact. We presented detailed role descriptions, outlined the performance-based assessment process, and made it clear that only individuals with demonstrable results would progress. This allowed us to pre-qualify interest and reduce time wasted on poor fits. All communication was calibrated to align with the fund’s unique positioning: High autonomy, high expectations, and high upside.

Execution and Delivery

The first shortlist was prepared in just 3 days, well ahead of the client’s expected timeline of one week. Our early submissions included multiple candidates with profitable portfolios, each already prepared to enter the trial evaluation stage. We facilitated every part of the process: Coordinating virtual account setups, arranging multi-stage interviews, and briefing both sides ahead of each interaction.

Behavioral interviews were conducted by our senior team and designed to replicate the cognitive and emotional demands of live trading. For example, candidates were presented with a real-world market scenario: a sudden 80-pip drop in EUR/USD following an unexpected central bank announcement. They were given only two minutes to decide whether to hold, exit, or reverse their position, explaining their reasoning in real time.

During these simulations, interviewers tracked decision-making speed, rationale under incomplete information, and adherence to predefined risk limits. Emotional control was assessed by introducing deliberate distractions, such as conflicting news headlines or simulated slippage, to observe whether candidates deviated from their strategy.

Once the behavioral stage was complete, candidates proceeded to portfolio walkthroughs, where they justified past trades, including losing positions, and demonstrated how they adapted strategies after drawdowns. In select sessions, our forex consultants joined to challenge market assumptions, test knowledge of liquidity patterns during low-volume sessions, and probe for deeper understanding of macroeconomic drivers.

This structured, stress-tested approach ensured that only candidates with both technical competence and psychological resilience advanced to the final stage.

In less than four weeks, the fund extended offers to two standout traders, both of whom are now actively managing internal capital. This rapid timeline was made possible through an accelerated but structured process: We conducted initial screenings within 48 hours, prioritized candidates with pre-verified performance records, and streamlined communication between all decision-makers to reduce delays. No interview stages were skipped; instead, we condensed the timeline by eliminating gaps between interviews and ensuring immediate post-interview feedback. Over the following three weeks, two additional hires were made, bringing the total to four traders secured.

The relationship has since evolved into an ongoing collaboration, with DevsData LLC retained to support further hiring initiatives as the fund scales. Future recruitment efforts will focus not only on additional trading talent but also on analysts, quant developers, and risk management professionals, reflecting the client’s broader plan to build out cross-functional investment teams. Our process not only delivered the right talent but also helped the client formalize and optimize their recruitment strategy for long-term growth.

Standard vs DevsData LLC’s Recruitment Process

Outcome

In just over a month, we successfully placed four traders and portfolio managers, exceeding the original hiring target and fully meeting the client’s expectations. Each hire brought a verified performance history, such as consistent year-over-year returns above benchmark or prior success managing high-volatility portfolios.

During the screening process, we evaluated market intuition through scenario-based questions that tested candidates’ ability to make rapid, data-driven decisions under shifting conditions. The final selections demonstrated not only technical acumen but also the ability to work autonomously in high-pressure environments where accountability and speed were critical to success. Despite the complexity of the brief and the niche nature of the talent pool, we maintained momentum and candidate engagement throughout.

What began as a request for three traders evolved into a broader collaboration as the client recognized the exceptional caliber of the candidates we presented. Impressed by the professionalism of our process and the alignment of talent with their investment philosophy, the fund expanded its hiring scope to onboard a fourth trader. All four individuals have since cleared the trial period and are actively trading capital within the firm’s internal ecosystem.

The project has been described by the client as one of their most efficient and outcome-oriented hiring campaigns to date, with 50% of candidates hired in the first month and meeting or exceeding performance expectations during their initial 90-day review. Beyond filling urgent roles, we introduced a structured scorecard system, ensuring that assessments were consistent and directly aligned with the client’s core values of risk management and autonomy. We also helped improve candidate communication workflows by drafting standardized outreach templates, defining response timelines, and implementing a shared feedback loop to reduce delays and misalignment. Together, these improvements created a more scalable and repeatable model for future recruitment cycles.

Highlights:

• Four traders were hired in over one month, exceeding the original hiring plan.
• 72-hour turnaround for the first shortlist, well ahead of client expectations.
• Close collaboration with professional traders to ensure accurate and relevant candidate assessments.

What’s Next?

Following the success of the initial project, the relationship between DevsData LLC and the fund has evolved into an ongoing partnership. We continue to provide on-demand recruitment support, particularly as the client explores expansion into additional asset classes and seeks to diversify its trading strategies.

Future collaboration will focus on sourcing highly specialized talent in areas such as quant research, risk modeling, and strategy development. We’ve also begun discussions around helping the fund attract talent with machine learning expertise, opening up new intersections between discretionary trading and algorithmic design.

Our role has grown beyond candidate delivery; we now assist the client in shaping its long-term talent strategy and navigating an increasingly competitive landscape. As the firm continues to scale, DevsData LLC remains a key partner in building out a world-class trading team.

To connect with DevsData LLC, email them at general@devsdata.com or visit their website at www.devsdata.com.

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Elen Muradian Copywriter and Marketer

As a versatile and accomplished writer with 3+ years of experience in digital media publishing, Elen is skilled in crafting engaging content across various subjects, styles, and media. In her previous experience, Elen worked closely with editorial teams and visual artists to bring content to life. She always seeks opportunities for personal and professional growth and is eager to contribute to the writing field.

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