Renaissance Technologies is a very successful hedge fund that almost exclusively hires PhD's to do the coding, no matter what field.

I believe RenTech only hires from highly numerical fields. E.g. math, physics, compsci.

They also employ <100 PhDs. The entire company is small. Might not be worth mentioning as an employed because the chance of getting in is miniscule.

> Credit Suisse here in Switzerland used to only hire PhDs for programming positions. It didn’t matter what the PhD was in - they’d train you how to program.

> Note: credit Suisse collapsed a few years ago and now no longer exists.

So you're saying that was a sound strategy on their part

Correlation does not imply causation (but it does stare at it from across the room and suggestively waggle its eyebrows)

their collapse didn't have anything to do with computer systems failing though.

they just spent a period of about 10 years making sure they were involved in every major financial scandal due to poor judgment.

> they just spent a period of about 10 years making sure they were involved in every major financial scandal due to poor judgment.

Hard to imagine any relationship between that outcome and a policy of exclusively hiring a demographic that's notorious for having high intellectual skills but low life experience. Wait, no, not hard. Easy.

What do you mean Credit Suisse no longer exists? It is still there, just as a subsidiary of UBS.

“Collapsed” It was acquired by UBS in 2023.

It was "acquired" at the demand of the Swiss regulator because it was bankrupt.

From my experience, 40 years ago PhD used to be hard to do and meant that the person who had it was smart. These days the only thing it indicates is that the person spent many years at university.