As we watch the European debit crisis continue, US hedge funds are snagging top talent across the pond. US funds are capitalizing on firms overseas firing and layoff untapped talent in the banking and finance sectors. The hope is to add to an already successful team of traders and mangers to drive fund returns even during this downturn in the economy.
So far some professionals overseas, such as Pierre-Henri Flamand formerly at Goldman Sachs, have since liquidated funds to pay off investors, and then headed to the US for positions at top hedge funds. This trend is also happening at smaller firms in the UK who have seen significant losses. John Purcell, CEO of his own London-based executive-search firm, said “If they lose assets, they really struggle to raise them again -- that’s the risk of going to a smaller firm."
How can this overseas job trend help or hurt the job market for hedge fund managers?
Can this economically benefit the US with an increase of top talent in the financial sector?
As the economic crisis in Europe continues and as our economic situation in the United States continues to improve I can confidently assume that we will continue to attract and retain some of the top talent in the Hedge fund industry. With hedge funds being such a high risk and high reward form of investing, the stronger U.S. economy is a better environment for success.
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