U.S. hedge funds poach London talent

US hedge funds are increasingly seeking to poach talent from the London market, says one recruiter.

"We're seeing massive demand for hedge fund talent from the U.S.," says Alex Henderson, business manager at recruitment firm Emerson Chase City, which is opening a New York office in July.

US hedge funds' interest in poaching London talent follows research indicating that the London hedge fund market is growing at a faster rate than the U.S. market.

International Financial Services London (IFSL), a body promoting London as a financial services centre, says London's share of global hedge fund market doubled over the past two years while the share of the U.S. fell from 86% to 62%.

Henderson says U.S. funds have very specific requirements: "They're looking for senior level people who have experience of running money successfully, PHD quants who are very mathematical, and also to a degree sales and marketing experience. UK sales guys are perceived as more dogged than those in the U.S."

Due to the difficulty in acquiring visas, he says it can be hard for UK professionals to get in, but they are always considered if they get through the immigration process. And once there, sales people can expect to earn up to 1million in commission if successful.