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What Do Hedge Fund Recruiters Do?

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  • Written By: K. Kinsella
  • Edited By: Shereen Skola
  • Last Modified Date: 22 November 2016
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Hedge fund recruiters are responsible for finding investment professionals to fill vacant positions at hedge fund companies. In many instances, hedge funds employ in-house Human Resources (HR) representatives whose duties include recruitment. Some fund companies work with independent employment agencies to find new recruits.

Experienced brokers and traders work at hedge funds and these individuals are responsible for managing client funds and conducting transactions on behalf of the investment company. Recruiters proactively contact brokers and other employees of rival fund companies, banks and insurance firms. Most hedge fund investors are wealthy individuals. Consequently, hedge fund recruiters typically seek out brokers who have prior experience handling big trades and the assets of high net worth individuals and major organizations. Typically, recruiters contact brokers and traders prior to jobs becoming vacant and then compile dossiers of qualified investment professionals that they contact as and when positions become available.

In most countries, brokers and traders must hold securities licenses. While some investment companies hire entry-level workers who have yet to obtain their licenses, hedge fund recruiters typically target individuals who already hold the necessary licenses to conduct a variety of trades. Additionally, some hedge funds conduct trades on multiple markets in which case recruiters may seek out brokers who are licensed to sell securities within different regions.

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Generally, recruiters attempt to fill trading positions with experienced investment professionals but other company positions are often filled with college graduates. Fund companies hire graduates with degrees in finance, economics and similar topics to work as analysts. These individuals are responsible for analyzing data related to the securities industry as a whole, the general economy and particular pools of securities. Analysts make predictions about future movements of the economy and the performance of different securities. Hedge fund recruiters typically attend job fairs at leading colleges and universities in order to find and recruit top candidates to fill analyst’s positions.

In addition to sales and finance related positions, hedge fund recruiters also find candidates to fill positions in the legal department. Hedge fund traders attempt to generate above average returns by purchasing unusual types of commodities such as government bonds that are in default and pools of delinquent mortgages. There are often complex legal issues related to these high risk, potentially high reward investment products. Consequently, hedge fund recruiters are responsible for recruiting lawyers who have prior experience in securities industry.

Recruiters employed directly by hedge funds are normally salaried employees many of whom have college degrees in personnel management, business administration or a related field. While some companies employ entry-level recruiters, many firms prefer to hire recruiters who have knowledge or experience of the securities industry. Recruiters employed by independent staffing agencies are also salaried and their firms work for hedge funds on a contract basis. Agencies that specialize in recruiting financial professionals sometimes hire former brokers or traders to work in recruiting roles.

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