For those who do not know, DE Shaw is a well-respected financial firm that exists within Wall Street today. The founder of the firm is known as David Elliot Shaw, and he is one figure within the industry that takes on activities that relate to investing, to computer science programs and to managing funds in the manner of hedging to preserve and perpetuate financial assets. It is not easy to be a financier like David Elliot Shaw but he’s been able to start his company and keep his company growing and getting it to a stage that is surely legitimate.
Further, one should know that that is specific firm is one that is quite likely one of the most compelling firms within the financial industry today because of its many different practices and its exciting and unusual company culture.
Wall Streeters themselves may not know that much about this firm either. It is that type of firm. A firm that doesn’t share too much information and keeps to itself. This is true for all of the people that work there and for the founders and management of the firm too. The firm prides itself on its secrecy, and this is seen in its latest non-compete agreements.
In a rather fascinating tale, we can see that the company, De Shaw has amped up its efforts to retain talent and make sure that current talent doesn’t defect and use current knowledge to benefit another firm.
Specially to prevent prior employees from possibly getting current employees to defect and join their new firm for more compensation or other potential benefits that might entice current DE Shaw employees to run over to a potential competitor swiftly.
The firm prepared for this potential outcome and sought to minimize it with the power of legalese. These non-compete agreements should increase and empower the firm to retain the current base of talent that helps DE Shaw to run and stay as relevant and robust as it is today. DE Shaw is surely using similar industry tactics to keep a tight lid on their current pool of surprising and wonderfully bright minded people.