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As someone deeply involved in the ever-shifting landscape of financial markets, I think it’s important to share some of the trends we are currently seeing in front-office hiring, especially among Hedge Funds, Asset Managers, and Asset Owners. My team and I at Laz Partners focus predominantly on recruiting top-tier talent in portfolio management and research/trading talent, specializing in domains like global macro, equities, and credit across both Developed and Emerging Markets.
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This year, we’ve seen a surge in demand for EM Macro (Rates/FX) Senior PM and Assistant PM roles, especially among our Hedge Fund clients. It appears that the opportunity set in these markets is too lucrative to ignore, driving the hunt for both Senior Portfolio Managers and Assistant PMs. On a similar note, there is also a strong appetite for expertise in EM Credit and EM Equities.
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A rather interesting (but not new) trend is the upswing in portfolio management roles specifically geared towards managing assets for insurance clients. Given the complex regulatory frameworks like Solvency II, the market has opened up substantially for those with this niche expertise. Essentially, if it is not Hedge Funds we are talking about, there is likely an insurance angle involved and we expect this trend to continue, especially as we see more major global players entering the insurance consolidation space and trying to emulate firms like Apollo etc.
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Looking ahead, we believe Hedge Funds will continue to see strong hiring activity, notwithstanding a somewhat quieter year compared to the last. The same can be said for Asset Owners, particularly insurers, who we see stepping up their game. As for the broader asset management industry, it is a mixed bag. Boutique asset managers with specialized focus areas could be the dark horses, potentially weathering storms that could see major players consolidating or retreating.
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The financial markets are in a state of flux, and that extends to hiring trends as well. We anticipate significant activity in Hedge Funds, growing involvement of insurance in asset management, and a cautious optimism around specialized Asset Managers. This is an exciting time to be in this space, and we look forward to helping both clients and candidates make the most of these opportunities.
