According to executive recruiter the Westminster Group, none of the hedge fund firms surveyed last year anticipated any declines in staffing – and two-thirds were actually expecting to grow staff in 2002.
Not surprisingly, senior management, portfolio managers, and research roles were viewed as the three most difficult positions to fill. However, most new hires (70%) were expected to come from outside the hedge fund industry, specifically banks and traditional asset managers, in a survey conducted last year by Lois Peltz at Infovest21 for Westminster.
However, other opportunities are also emerging, according to Westminster. Citing recent first hand experience, the firm says that firms are beginning to look for persons skilled in preparing request for proposals (RFPs), client service personnel, and other marketing functions, including copywriters with expertise in both financial and promotional copy.