Wednesday, 1 October 2014
Last updated 29 min ago
Aug 9 2010 | 11:21am ET
Not only did the recently-passed Dodd-Frank financial regulation reform law leave hedge funds relatively unscathed, it is serving as a major recruitment tool for the industry.
The law requires banks to end their proprietary trading activities within four years, but talented traders on those desks aren’t waiting to flee for the greener, less-regulated pastures of the hedge fund world, Illana Weinstein of executive search firm IDW Group said.
“The amount of incoming flow to us from folks that were very sticky in the past and very talented is very unbelievable in terms of wanting to leave the prop. desk to go to the hedge funds to not have to deal with all of this stuff,” Weinstein, the firm’s CEO, told CNBC. “I think it’s turned hiring from the prop. desks into a buyer’s market for hedge funds.”
Goldman Sachs, Morgan Stanley and Bank of America are among the large firms are considering spin-offs or shut-downs of their prop. desks.
“Hedge funds have their pick of whoever the remaining talented prop. traders are,” Weinstein said.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...