<p>If an investment bank posted a 332.5% increase in profits, you&rsquo;d expect it to bump up pay and indulge in some celebratory expansion. But things don&rsquo;t work that way on.</p> <p>If an investment bank posted a 332.5% increase in profits, you&rsquo;d expect it to bump up pay and indulge in some celebratory expansion. But things don&rsquo;t work that way on the buy-side.</p> <p>A case in point is Blue Mountain Capital Management, which has just released its 2016 accounts for its UK operation on Companies House. Its profits surged from &pound;4m in 2015, to &pound;17.3m last year &ndash; a 332.5% increase. And yet, it reduced the number of staff it employs by 11%.</p>