Qube Research and Technologies was the big hedge fund success story of 2024, hiring hundreds of staff and cementing itself as one of the biggest players in the space. The fund spun out of Credit Suisse and has heavy French influence, but is based in London; newly released accounts for one of its UK entities show just how much the fund grew last year.
2024 accounts for ‘Qube Research & Technologies Limited’ released today. In that entity, the average number of employees increased by 57%, rising from 526 to 827. Despite the massive hiring, pay also increased; it paid an average of £597k ($803k) in ‘wages and salaries’ in 2023 but increased that to £722.3k ($972.2k) last year. The pay increase reflected what appeared to be a great year for Qube. Revenue in the entity more than doubled to £2bn, while pre-tax profit nearly tripled to £914m.
Qube may be even larger than this, however. The firm incorporated a new entity in late 2023, ‘Qube Research & Technologies Services UK Limited’ which has yet to file any annual accounts, and may have some of Qube’s headcount distributed to it. As of February 2025, Bloomberg reported that Qube had 1400 employees across its 13 global offices in the UK, Poland, Hong Kong, Dubai and beyond.
Qube has had a slightly less meteoric 2025. It was one of many quant focused funds to lose money over the summer, but is still in the black for the year overall. In spite of its performances, the fund has increased its expansion plans and started to build fundamental investment team and a team in the US after years of ignoring that market.
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