The widely noted pickup in hiring isn't confined to bulge-bracket banks and other sell-side institutions. London's biggest hedge fund managers are actively recruiting traders and sales people as well.
A recent story in Financial News names the European arms of such well-known names as Caxton, Citadel, Tudor, Moore and SAC as participants in the fund recruiting trend. Candidates are coming from the usual sources - smaller hedge funds and from investment banks.
A few months ago, eFinancialCareers News had speculated that 2010 might see a partial reversal of the typical movement of professionals from sell-side to buy-side institutions. That's because surveys indicated bonuses for sell-side pros were recovering more strongly than those on the buy side, which could leave many buy-siders disappointed and receptive to crossing the aisle.
The Financial News story throws cold water on that thesis. Based on its reporting, the traditional flow of talent from banks to hedge funds is alive and well. The story cites individuals who jumped to various large funds from UBS, Deutsche Bank, BarCap, JPMorgan and Morgan Stanley.
Hedge Funds Hire as Confidence Returns
Recruiting Bonuses Are Still Strong [Registered Rep]
R.B.S.'s Shining Star in Connecticut [NY Times]
Agreement Is Near on New Banking Risk Overseer [NY Times]
Keeping Middlemen in Middle [WSJ]
The New Normal for Employment: A Con Job [CIO]
Citadel's DePietro Uses Hedge-Fund Skills to Direct First Movie [Bloomberg News]