Rabid rush for fund management talent

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Forget investment banks, asset management recruiters are forecasting a frenzied start to hiring in 2007.

"Come February or March, when the bonuses have all been paid, there is going to be a monumental amount of recruitment, the likes of which I don't think I'll have seen in the past 12 years," says Chris Manfield, head of the European asset management practice at search firm Whitney Group.

Manfield predicts fixed income fund managers will be particularly popular, thanks to strong demand for fixed income products in continental Europe.

Both equity and fixed income fund managers will be in strong demand, agrees Martin Lorrigan, a consultant at Shepherd Little, as will sales people capable of riding the buoyant market.

Other growth areas identified by search consultants are researchers, investment managers, alternative investment specialists, quants, hedge fund strategists, as well as marketing specialists, client servicing staff and relationship managers - in short, anyone with anything to do with fund management.

"A lot of firms will be increasing their headcounts and creating new jobs," declares Lorrigan.

"Because there has been a lack of graduate recruitment over the past four to six years, there is now going to be a hell of a lot of activity, particularly among people who can bring two to three years' experience to the market," he adds.

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