Key Takeaways
- • Two Sigma's London entity, Two Sigma International Limited, averaged 93 employees in both 2024 and 2023, according to Companies House accounts reviewed by eFinancialCareers, indicating London headcount was essentially flat despite a 200-person global layoff late in 2024.
- • Average wages and salaries per head in the London entity rose from £345k to £377k, with wages and salaries up roughly £3m ($4.1m) in the year.
- • Compensation for the entity's highest-paid director rose to £3.9m in 2024 from £1.8m in 2023.
- • David Sugarman, who joined as a senior vice president in global convertibles trading in August 2024 after 13 years at Polar Capital, was the London office's most notable hire.
- • John Overdeck returned to Two Sigma's management committee in April 2025, a move eFinancialCareers suggests could create unease among London engineering staff.
Summary
Two Sigma's London office appears to have been largely insulated from the upheaval that marked 2024 at the quantitative hedge fund, according to an analysis of Companies House accounts by eFinancialCareers. The year saw the firm's feuding co-founders both step down as chief executives, and the firm laid off roughly 200 people toward the end of the year. However, the London entity, Two Sigma International Limited, reported an average of 93 employees in both 2024 and 2023. The only movements were a loss of one corporate team member and a gain of one in the modelling team. Engineering headcount held steady at 56 and forms the bulk of the London workforce.
While headcount plateaued, compensation rose sharply. Wages and salaries increased by about £3m ($4.1m), lifting average pay per head from £345k to £377k. The highest-paid director's compensation roughly doubled, from £1.8m in 2023 to £3.9m in 2024. The most prominent London hire was David Sugarman, who joined as a senior vice president in global convertibles trading in August 2024 after 13 years at Polar Capital, a London hedge fund with more than 160 employees.
EfinancialCareers notes that 2025 has brought further changes. John Overdeck, the co-founder who oversaw the firm's modelling teams, returned to the management committee in April, a development that could unsettle a London office with a heavy engineering focus. The publication also cites an engineer on the jobs forum Blind who said that since the layoffs, "everyone's been having to work harder with no corresponding increase in TC," suggesting Two Sigma's historically relaxed culture is shifting.
While headcount plateaued, compensation rose sharply. Wages and salaries increased by about £3m ($4.1m), lifting average pay per head from £345k to £377k. The highest-paid director's compensation roughly doubled, from £1.8m in 2023 to £3.9m in 2024. The most prominent London hire was David Sugarman, who joined as a senior vice president in global convertibles trading in August 2024 after 13 years at Polar Capital, a London hedge fund with more than 160 employees.
EfinancialCareers notes that 2025 has brought further changes. John Overdeck, the co-founder who oversaw the firm's modelling teams, returned to the management committee in April, a development that could unsettle a London office with a heavy engineering focus. The publication also cites an engineer on the jobs forum Blind who said that since the layoffs, "everyone's been having to work harder with no corresponding increase in TC," suggesting Two Sigma's historically relaxed culture is shifting.
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