Key Takeaways
- • Elizabeth Xiang, former Asia-Pacific head of business development at Verition, alleges in a Hong Kong court filing that she was fired in June 2026 after taking time off to care for her mother, and that the fund wanted to avoid paying her 2026 bonus, according to Bloomberg.
- • Xiang says Verition's APAC headcount grew from four to 87 during her roughly five years there, with 30 PMs hired locally, 27 of which she was responsible for.
- • Xiang reports a 2025 salary of about US$200k plus a bonus of roughly $600k, up from a $150k salary when she joined in 2021; Verition has not commented.
- • Xiang plans to file a discrimination claim, and the account reflects only her perspective as Verition did not respond to Bloomberg's request for comment.
Summary
A recently filed Hong Kong court document offers a rare look at compensation for senior business development professionals who recruit portfolio managers for hedge funds. Reporting on the filing, Bloomberg says Elizabeth Xiang spent nearly five years at Verition, the multistrategy hedge fund, where she served as Asia-Pacific head of business development. Her filing states that Verition's regional headcount grew from four to 87 during her tenure, and that 30 portfolio managers were hired locally, 27 of whom she says she was responsible for.
Xiang states she earned a salary of around US$200k in 2025 plus a bonus of roughly $600k. When she joined in 2021 her salary was $150k, and she says her bonus increased each year.
According to Xiang, her mother in China suffered a cancer relapse in late 2025, and she spent early 2026 travelling to care for her. She claims Verition began a new project to map portfolio managers across the APAC market without informing her, and that the fund dismissed her in June, citing "failure to consistently follow reasonable management instructions," "inconsistent follow-through" and "ongoing communication concerns with internal and external stakeholders." Xiang contends she was fired for taking time off to care for her mother and to avoid paying her 2026 bonus. She plans to pursue a discrimination claim, per Bloomberg.
Verition did not comment on Bloomberg's article, and eFinancialCareers has contacted the fund for comment. The account of her employment and dismissal therefore comes solely from Xiang's perspective and has not been tested against the employer's position.
Xiang states she earned a salary of around US$200k in 2025 plus a bonus of roughly $600k. When she joined in 2021 her salary was $150k, and she says her bonus increased each year.
According to Xiang, her mother in China suffered a cancer relapse in late 2025, and she spent early 2026 travelling to care for her. She claims Verition began a new project to map portfolio managers across the APAC market without informing her, and that the fund dismissed her in June, citing "failure to consistently follow reasonable management instructions," "inconsistent follow-through" and "ongoing communication concerns with internal and external stakeholders." Xiang contends she was fired for taking time off to care for her mother and to avoid paying her 2026 bonus. She plans to pursue a discrimination claim, per Bloomberg.
Verition did not comment on Bloomberg's article, and eFinancialCareers has contacted the fund for comment. The account of her employment and dismissal therefore comes solely from Xiang's perspective and has not been tested against the employer's position.
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