Hedge funds on a hiring binge?

July 9, 2008 | By Jim Kim

We've noted before that lots of laid-off bankers, traders and analysts will have trouble finding a job. Some will have to transition into a new line of work. The lucky ones will find work in the alternative investments universe. And right now, there is reason for hope. The Financial Times reports that hedge funds are in active hiring mode. They are using the crunch to pick up some talent--star traders, top executives, even entire teams. Tudor, the article notes, hired a Bear Stearns distressed-debt team. Citadel has taken on three senior executives from JPMorgan. Many of the hires are people who remain employed. You indeed have to wonder whether a layoff marks you in a subtle way. It's clear to me, though, that hedge funds won't come close to absorbing all of the displaced.

For more:
- here's the Financial Times article