More and more, U.S. hedge funds are trolling for talent in London, a recruiter says.
"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 will open a New York office in July.
The interest in London's talent pool stems from research indicating the hedge fund market there growing more quickly than in the U.S.
According to International Financial Services London (IFSL), which promotes London as a financial services center, the city's share of the global hedge fund market doubled over the past two years. During the same period, the U.S.'s share fell from 86 percent to 62 percent, IFSL says.
Henderson says U.S. funds have specific requirements: "They're looking for senior level people who have experience of running money successfully, Ph.D. 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, Henderson says it can be hard for UK professionals to get in. If they can get through the immigration process, they're always considered for jobs. Once in place, a succesful sales person could earn nearly $2 million in commissions, he says.