TT International, the hedge fund founded by Tim Tacchi in 1988 and acquired by SMBC in 2020 has continued to expand despite poor performance, according to a report by eFinancial Careers. 

TT International saw its revenues fall by around 20%, from £79m ($99m) to £64m ($80m). Profits were down by the same proportion, from £73m ($92m) to £59m ($74m).

However, the hedge fund has continued to expand. The report noted that it went from 96 to 102 employees from 2021 to 2022, while compensation didn’t go up to match – salaries and bonuses went from £298k per head in 2021 to a still-impressive £289k  per head in 2022