Hiring wind hits the fund management sector

Fund management recruiters say the sector is in the midst of a hiring spurt.

"Fund management recruitment is very busy at the moment," reflects Chris Manfield, head of the European asset management practice at search firm Whitney Group. "We're busier now than we have been for the last five or six years."

Manfield says hiring is broadly spread across all product areas, roles and geographies: "Last year there was a lot of hiring in the distribution space. This year it's across the board and reflects the huge amount of confidence in the market."

Confidence follows a spate of healthy results at the likes of Martin Currie Investment Management, New Star Asset Management and Glasgow-based Britannic Asset Management.

Lehman Brothers and Morgan Stanley are understood to be among those hiring for their asset management arms. Financial News reports that Lehman is looking for a European representative for its fund of hedge funds, a portfolio manager for its structured products group, a global fixed-income portfolio manager and a junior quantitative portfolio manager.

Reuters reports that an internal memo at Morgan Stanley suggests the bank is seeking to revive its asset management arm by acquiring money management firms and hiring in whole teams of managers.