Key Takeaways
- • Qube Research and Technologies increased its global headcount 62% to 1,336 people in the year ending December 2025, up from 827 the prior year, according to newly filed UK accounts reported by eFinancialCareers.
- • Average pay per head fell from £722k ($967k) to £616k over the same period, a decline the publication attributes possibly to cost discipline or hiring in lower-cost locations such as Mumbai.
- • Qube's revenues rose to £2.9bn from £2.3bn in 2024, and net profit increased to £831m from £712m.
- • Interim dividends paid rose to £499m from £362m, while the highest-paid director earned £3.7m, up from £2.4m in 2024.
- • Qube is diversifying beyond its systematic focus, building a discretionary equities team and, reportedly, a large discretionary macro team.
Summary
Quantitative hedge fund Qube Research and Technologies expanded its workforce sharply in 2025 while average compensation per employee declined, according to newly filed UK accounts reviewed by eFinancialCareers. Global headcount rose 62% to 1,336 from 827 in the prior year. Over the same period, average pay per head fell from £722k ($967k) to £616k. The publication suggests the decline could reflect greater cost discipline as the firm scales, or a shift in new hires toward lower-cost locations outside the UK. Qube now has offices in London, Paris, Switzerland, the Netherlands, Denmark and Mumbai, and the UK still accounts for 62% of headcount. The Mumbai office, and possibly a presence in Poland, are likely to weigh on average pay.
The firm has no partners but has directors, whose pay rose. The highest-paid director earned £3.7m last year, up from £2.4m in 2024. The accounts also show a loan of £1.25m made to a director three years ago, repayable with interest, of which £833k had been repaid by December 2025.
Financially, Qube reported revenues of £2.9bn in 2025, up from £2.3bn in 2024, and net profit of £831m, up from £712m. It paid £499m in interim dividends, up from £362m, which were apparently distributed as profits were earned. Qube is owned by Guernsey-based 1751 Capital Holding Ltd, and the report notes it is unclear who received the dividends. Chief executive Pierre-Yves Morlat and directors Laurent Laizet, Christina Wilgress, Stuart Brown and Marcus Knight were named in the context of the firm's leadership.
The article also notes Qube's strategic diversification beyond its historically systematic focus. The firm already has a discretionary equities team and is reportedly building a large discretionary macro team.
The firm has no partners but has directors, whose pay rose. The highest-paid director earned £3.7m last year, up from £2.4m in 2024. The accounts also show a loan of £1.25m made to a director three years ago, repayable with interest, of which £833k had been repaid by December 2025.
Financially, Qube reported revenues of £2.9bn in 2025, up from £2.3bn in 2024, and net profit of £831m, up from £712m. It paid £499m in interim dividends, up from £362m, which were apparently distributed as profits were earned. Qube is owned by Guernsey-based 1751 Capital Holding Ltd, and the report notes it is unclear who received the dividends. Chief executive Pierre-Yves Morlat and directors Laurent Laizet, Christina Wilgress, Stuart Brown and Marcus Knight were named in the context of the firm's leadership.
The article also notes Qube's strategic diversification beyond its historically systematic focus. The firm already has a discretionary equities team and is reportedly building a large discretionary macro team.
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