Magazine article Workforce Management

Bullish on Hedge Fund Recruiting

Magazine article Workforce Management

Bullish on Hedge Fund Recruiting

Article excerpt

Questions JENNIFER GOMEZ, David Barrett Partners

Workforce Management: How many hedge funds are out there? And are regulations making them part of a more "boring" banking system?

Jennifer Gomez: The number is certainly a lot less than it used to be. But there are still roughly 10,000 of them. "Boring" and "hedge funds" don't really belong in the same sentence. They continue to be the promised land for many on Wall Street. The game has changed, but that's what makes it exciting. It becomes that much more challenging to find ways of making money, to have an edge.

WM: What are the key skills or traits for hedge fund managers?

Gomez: As a hedge fund manager, investment acumen is obviously the most important thing. But a successful hedge fund manager also has to have management skills. It is fairly rare to find those two qualities in the same individual. You're a super smart guy; you're a brilliant investor. But you also need the ability to listen to others, to know what you don't know. Don't let your ego get in your way. And you have to be able to relax the reins enough to let others in functional roles - chief operating officer, for example - do what they do best. Also, as the industry becomes more and more regulated, institutionalized, these qualities become that much more important. You can't be a cowboy anymore.

WM: Do you have any recruiting secrets you can share?

Gomez: Recruiting for me is and always has been good old-fashioned detective work. You're finding a solution to your client's problem. …

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