Tuesday, 3 May 2016
Last updated 10 min ago
Mar 19 2010 | 9:45am ET
Hedge funds may be salivating at the opportunity to snatch top talent from banks if the Volcker rule becomes law, but they may have a poaching problem of their own.
U.S. family offices are set to step up their recruitment of hedge fund professionals. And those professionals are likely to be receptive, according to a new survey from Hunter Advisors.
Some 90% of the respondents to the recruiting firm’s survey said they would consider taking a job at one of the country’s 300 to 500 family offices, despite the lower pay.
“They’ll make the jump because of the stability,” Greg Coules of Hunter told Reuters. “Also, the culture and the lifestyle at these big institutions is tough.” Family offices offer “a much more genteel environment.”
The Volcker rule would bar banks from owning, sponsoring or investing in hedge funds.