Bob Olman, founder of recruitment firm Alpha Search Advisory Partners, reports that hiring “has turned around” for hedge funds and proprietary trading desks. Firms are hiring again, and have already picked up some talented managers who lost their jobs during the credit crisis.
A story from Reuters notes that the volume of job placements is three times higher now than in the first quarter of 2009. Olman said distressed debt and credit, equity long-short and global macro specialists are among the most sought after, along with U.S. equity, statistical arbitrage and systemic trading specialists. Citadel, RBC Capital Markets, Artradis and Tribridge have all recently added staff in hedge-fund-related job roles.
Hedge funds have also notched a sharp upturn in performance this year, up 9.9 percent in the first seven months, according to research provided by Credit Suisse/Tremont. The rising markets have boosted confidence enough for firms to begin staffing up again, particularly in marketing, to lure back investors.