Hedge fund managers looking to do good and take a substantial pay cut are advised: The Securities and Exchange Commission is hiring.
The regulator last month posted a job listing seeking five hedge fund veterans to join its new specialized asset management unit. The SEC is seeking fund managers, chief operating officers or anyone else with “direct exposure to trading and operations” for the jobs, which pay between $198,333 and $210,232 per year.
Recruiting firm Korn/Ferry International is handling the search, Bloomberg News reports.
The asset management team is one of five the SEC set up early this year within its enforcement division. The heads of the unit, Bruce Karpati and Robert Kaplan, apparently got the idea to hire hedgies from another new SEC unit, the Division of Risk, Strategy and Financial Innovation, which hired former hedge fund manager Gregg Berman.