Job Market Pulse: BNP making North American push, hedge funds building European debt teams
In this week’s hiring roundup, hedge funds, research firms and private banks are all adding staff. The U.K. is more represented than in weeks past, although U.S. firms still seem to lead the way.
Hedge funds hiring distressed debt pros
Hedge funds based in London and in the U.S. are building Europe-focused distressed debt teams – robbing junior talent from investment banks and corporate advisory firm, mostly. US debt-focused hedge funds Och Ziff, Centerbridge Partners, Beach Point Capital Management and Monarch Alternative Capital have been particularly active, according to Financial Times.
U.K. research firm adding analysts
New research boutique Lazarus Partnership is staffing up. The U.K. firm has so far added names with ties to its founder, former Oriel Securities Chief Executive David Knox. A host of veteran senior analysts have recently been hired, according to Financial News.
BNP eyeing Asia and North America push
While cutting costs in other areas, BNP Paribas will look grow its presence in Asia and North America. The French bank said in its fourth quarter release that it wants to bolster its high yield team and “develop business with large corporates and institutional clients,” which means relationship bankers.
Citadel poaching big-name traders
They may not be hiring in droves, but hedge fund Citadel appears willing to invest in high-priced talent if the opportunity strikes. The firm just poached two Goldman Sachs managing directors to help head up trading operations in its London and New York offices.
The only Chicago bank that’s growing
Chicago’s Northern Trust bank has quietly been growing, adding 250 people in Chicago over the last year and 600 globally. So far, most of the hiring has been in asset management and roles that deal with stress testing, so mostly risk management.
Barclays recruiting new directors
You’ll need a heck of a resume to get these jobs. Barclays has hired a headhunting firm to find as many as three new independent directors, according to the FT, and possibly a successor to its chairman, David Walker.
Fidelity’s new strategy may require female hires
With Abigail Johnson now at the helm, Fidelity Investments is eyeing a large yet rather ignored part of the client population: female investors. Generally speaking, firms look to hire more female advisors when making a push to better cater to both sexes. There is plenty of research to back that up.
Private bank hiring private bankers
Private Geneva bank Bordier & Cie is one of the many firms making a greater push into Africa. The bank is frantically hiring client advisors as it looks to double assets in Africa over the next two years.
UAE bank needs it all
United Arab Bank is on the lookout for front and back office staffers. Most roles are in corporate banking, compliance and audit.
Canadian firm wants London hedge fund talent
Canada Pension Plan Investment Board wants to hire a four- to five-person team in its London office to build a long/short portfolio for a new in-house hedge fund, according to Financial News.