Hiring coming back for emerging market managers

Russell Investment Group, the world's largest multi-manager, intends to expand into Scandinavia and Eastern Europe. Others are following the lead.

According to GlobalMoneyManagement.com, a spokesperson for Russell, Sarah Culpepper, says the plans are at a very early stage and any moves are unlikely to take place for a further 18 to 24 months. She also says it's too early to say whether the expansion will be accompanied by hiring.

However, recruiters point to an upturn in demand for emerging markets fund managers. "Emerging markets recruitment is likely to rise in the near future," says Chris Manfield, a consultant at search firm the Whitney Group. "There are some very good returns on offer in emerging markets, and with people looking to find new homes for their money, it is one of the obvious options."

Emerging markets rose more than 30% last year, and managers have boosted assets in the area to more than $10bn, with interest in the BRIC (Brazil, Russia, India and China) countries particularly hot.