Wednesday, 28 January 2015
Last updated 14 min ago
Mar 10 2009 | 11:35am ET
The global hedge fund industry’s workforce could shrink by as many as 20,000 heads this year, as firms struggle to cope with fewer assets and lower fees.
The job cuts, amounting to 14% of those currently employed in the hedge fund industry, would be a record, according to executive search firm Options Group, and twice as many as were lost last year, when hedge funds cut 10,000 positions.
According to Options Group, hedge funds currently employ 145,000 people around the world. According to Hedge Fund Research, 920 hedge funds closed their doors last year, when a whopping 70% of hedge funds lost money. That has led to a round of belt-tightening, as hedge fund firms learn to live without the performance fees they cannot begin to collect again until recouping last year’s losses.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…