Hans Pieterse left Optiver
Didn’t see it coming when the news broke last Wednesday. Edwin van der Kruk, nicknamed Joop – since he looks like television mogul Joop van den Ende, left Optiver last month. Bigger news is Hans Pieterse leaves the firm as well.
Hans Pieterse prominent figure
More recent news is that Hans Pieterse left the building as well. Although Pieterse will still be on the payroll for a few months. Joop did not have a big profile (Quotenet is still searching for him on this image), but Hans Pieterse is well-known within the trading world.
Optiver replacing management
As someone already mentioned in the comments, the entire senior management has left the firm over the last years :
The silly thing is that Optiver’s kinda flushed their whole management in less than five years. Edwin van de Ven: gone. Randal Meijer: gone. Jelle Elzinga: gone. Hans Pieterse: gone. Joop van der Kruk: gone.
Johann Kaemingk still active in risk mangement
As far as I can tell founder Johann Kaemingk is still active in the risk management business of Optiver. His successor, CEO Paul Hilgers has taken over the helm beginning this year. One could wonder whether he could get along with Joop and Hans.
Anyway, Henk Willem Smits can stop searching for an image of Joop. He’s not on the large picture (“behind the guy in the yellow shirt”). This is him, in the last century. Photo by Etienne Jong.
As a public speaker, Hans Pieterse is a lot easier to find.
first, yesterday’s news, done and discussed, nobody cares, next
why does jack open this blog only on Sunday evening to read and post?
natural attrition. better younger people than plodders like Joop are at optiver now. it took a new guy like hilgers to see this and send him on his way. as for Hans he probably just wanted a new start
new start to what? they got plenty saved up to take it easy?
By getting rid of Joop (whose estimated fortune is 1.6 billion euros, according to Quotenet: http://www.quotenet.nl/Miljonairs/Joop-van-den-Ende), Hilgers made sure he’s the only billionaire left at Optiver.
define ‘billionaire’
http://bit.ly/1zkSeAA
why were they all fired? Is this similar to the firing of senior IMC managers in the past years?
hell no?
define anonymous
I think that officially none of these guys got fired. One, maybe two were asked whether they would not want to reconsider their positions. The others reached the conclusions for themselves.
@Jack: is Quote paying you for the leads you give them?
it’s what happens in a grown up world, people being kicked out are gently asked if they would like to move on to other things and hand their resume on the way out, any rational employee would like to maintain dignity and in return the employer sings all the praises for the departed, firing is just the worst possible way to execute this, if the person being fired doesn’t see this coming long before, then the management has failed in their own duty on how to handle the staff’s performance and motivations
Ping pong http://www.quotenet.nl/Nieuws/Waarom-is-de-hele-top-van-Optiver-vertrokken-138369
IMC needs to purge the deadweight senior management too. And fast.
why?
why not?
it’s in the definition isn’t it, ‘deadweight’ ‘senior’ ‘management’?
however you can debate about how ‘fast’ ?
Deadweight and ineffective too. Be money pit. They are eating away my bonus
are you sure you are not eating away into somebody else’s bonus?
Rumor has it Pieterse will be joining Source Capital in Zug once his gardening leave period complete.
Every time we get a story that can grow, there are two posters who come along and drown it.
There´s our 4:18 poster who’ll come back time and time again telling us that there’s nothing new, it’s all normal and will just plug his ears and scream ‘na-na-na-na nothing new’ (‘and if you don’t agree you’re an ffing communist’) and then there’s definition drone.
Anyone willing to take bets on ‘nothing new’ and ‘definition man’ being a PR bod from either Optiver or IMC?
Definition man is one of the Tibra founders
There is no way Hans will join Source or any other firm. He is too much of an Optiver “ultra”. Loyal through and through. That’s not to say he might start up something small or do some PA but like the other heads before him like Jelle, Randal, Jan Dobber, Leo v.d Berg even Rob K he will never join a competitor.
define ‘a story that can grow’?
you do seem to enjoy generalization a lot?
btw, do you guys really think there is only one define guy?
@2:29: Can’t be – someone’s opened a can full of them and they’re sitting at their little terminals in Hyderabad.
that’s racist mate
define ‘racist’?
He probably has a networth higher than most competitor startup founders. He does not need to compete with anyone. Lie back on his shares and retire, something he could have done 10 years ago too. . Not many can retire from a company without anyone having anything bad to say about them. Wouldnt surprise though if he starts a hedge fund and calls up optiver for markets.
Not true. Hans Kroon, Richard den Drijver and Egbert Pronk all left Van Der Moolen with their reputations intact.
they didn’t leave vdm you muppet, they drove the company bankrupt
your characterization ‘someone’s opened a can full of them and they’re sitting at their little terminals in Hyderabad’ falls right into the classic definition of racism as involving an idea that one’s own race is superior while demonstrating intolerance of another race
http://bit.ly/1uHCG5A
What do you guys think of dan bilzerian ? is he better than those unknown hanses or hilgers ?
define ‘dan bilzerian’
define ‘better’
Hilgers is top dog and has been for a long time now.
define ‘top dog’
Just as side note
For those who look at Glassdoor has anyone noticed how IMC is going about getting all the negative review removed.
Seems like their lawyers are at work again. Maybe Jack can help Glassdoor out and show them how to fight such a weird company.
there’s nothing weird about getting negative comments removed?
For god sakes, did you forget the half century of cold war, heavy handed countries like china and north korea and iran and the list goes on are still ery alive, controlling the image is everything to them, or do you find that weird too?
Are you saying IMC is like North Korea? They are heavy handed though.
north korea beheads its dissenters or worse starves them in concentration camp style prisons, imc just barely take them of its payrolls, it’s not even a comparison?
Hilgers is on a purge. Fact is Optiver has a ton of talented people held down by partners who are earning too much simply by the fact they have been there for years. Expect a few longer tenure “execs” to be next.
that’s good for the company and the shareholders in the long run?
then why are you using the word ‘purge’ which has negative connotation?
It’s still a purge, it’s negative if you are the one getting dismissed
how about ‘rationalizing the staffing levels’
the problem with ‘purge’ is that you end up implying if hilgers is doing something negative to existing staff, which he is not, he is just ‘rationalizing the staffing levels’, which is his fiduciary duty to jk & co
Optiver get has always been a purge machine. You get there spend 1-2 yeas learning and jump for 2x pay immediately. For non dutch Amsterdam office is a waste of time.
again, it’s ‘rationalizing the staffing levels’ and not a bloody ‘purge machine’
who is paying 2x pay after 1-2 years learning at optiver?
what do you learn at optiver, 99 bid at 101 for 100 mid?
Please tell me where these places are that pay 2x Optiver after 1 year? Sounds inviting
Yeah purge is such a negative connotation. It’s the antonym of “sabbatical” like when randalf went on a sabbatical and never returned
the ‘places that pay 2x pay’ are the carrots that a donkey is shown while getting that donkey to be ‘encouraged’ in delivering 2x work, you know what, that does sound very inviting
purge is of course not antonym of sabbatical, randalf went on sabbatical due to regulatory issue, he didnt return because the ceo spot wasnt available anymore, how is that a purge? and why can’t this be categorized into ‘rationalizing the staffing levels’?
“Regulatory issue” well now who’s being naive?
“Rationalizing staff levels” you sound like G Clooney in that film ” up in the air” straight out of the management speak text book. define “defensive”
having cftc squeeze optiver’s balls aint a ‘Regulatory issue’?
just because i sound like g clooney or more importantly look like g clooney doesnt make me the sexiest man alive? more importantly, while ‘rationalizing staffing levels’ might sound like management speak, it’s the bread and butter of what europe needs right now, so called structural reforms in the dysfunctional labor market, here is an eg of how badly europe needs these http://www.hrmagazine.co.uk/hro/news/1019018/is-swedish-derogation-flat-pack-solution-eus-agency-workers-directive
now can you guess there’s nothing ‘defensive’ about hiring and firing staff, or you are free to go live in 50’s soviet empire if there is left any
HR magazine? Hard to look like Clooney when you are obviously a female
I wish my last boss told me that I was being rationalized rather than fired during the financial crisis
hr magazine is just the cover muppet, read past it already
financial crisis is ancient history, get over yourself already
well its not your boss’ duty to rationalize that to you, the point, its for you to rationalize it in your next job interview yourself and for the disingenuous interviewer to not ask the question why the job seeker got fired while actually firing his departing staff
Forget it, I’m going to go rationalize some staffing levels Hilgers style.
it’s not really ‘hilgers style’
it’s actually the bread n butter of a free economy, if you aint useful for the company, then you are out, no hard feelings, best wishes and slave hard for your next pay master
Purge purge purge purge
good, now go get a napkin to clean yourself up
“financial crisis is ancient history, get over yourself already”
Why do the Dutch often put already at the end of sentences?
Define already
If you can’t write English properly then get off this blog. Is that you Joop?
Anyone else think Black Piet to be a bit racist?
black piet is def racist, duh?
http://www.huffingtonpost.com/2012/12/04/black-pete-netherlands-holiday-tradition-racist_n_2237076.html
how did you conclude its only the dutch putting ‘already’ at the end of sentence already?
It’s me Joop hommie, i double up as black piet in couple of weeks, knowwhatimsayin
It’s definitely not Joop, he’s busy writing his autobiography
about 99 bid at 101 on 100 mid>?!
Who cares about Joopie, the question is who’s next on the “Hilgers hitlist”? I’m hoping it’s not me that gets rationalised, how many people make a purge?. Profits must be down at optiva this year
well if you are not pulling your weight, then expect rationalization
it’s not the ‘number of people’ that qualifies for a ‘purge’, its the circumstance which dictates whether a firing is a purge or rational, steve job’s firing from apple was clearly a ‘purge’, but in financials, firing can rarely ever qualify for a ‘purge’, it’s very hard to put a number on your incremental contribution to the value of the rest of company
profits dont need to be down for a cut to happen, if anything profits end up increasing after removing the dead wood, it’s judgement regarding incremental value vs incremental cost of an employee
rumor is, optiver is cutting their fat in amsterdam office. door was shown to a number of low class IT people.
now can i call it ‘rationalizing’ or do you still prefer ‘purge’?
There used to be a company hiring opvr talent on the same product in different countries. Not sure of the 2x pay there. Bad times everywhere.
it’s not bad time now, it was just an unsustainable bubble back then, duh?
yo jack, cowboy, could we have the old theme back pls, haven’t you been frustrated yourself when the provider changes the format, this is ridiculous
test
so you can have multiple commentary threads in same article, big deal, they are all retarded and so can be compiled in one retarded thread
test
Agreed, this is terrible.
ah, here we go, old school, change is good but not if it doesn’t pass cost/benefit filter
actually this migration brings back the memory of the old migration, the format was changed like couple of years ago, it’s now hard to recall the old format, wasn’t it something like black n white bbg style format originally