Hedge funds driving recruitment activity

Chatting with our clients over the last few weeks it seems that there are opportunities for staff at data vendors to switch to investment banks. Hedge funds are targeting the investment banks for staff and, in some cases, the banks are looking at software/technology firms for replacements. The banks are seeing the effects of reduced graduate intakes in 2002/2003 are making it difficult to fill some of these open positions. This has been the case for analysts (particularly credit and structured finance) and sales people. In the case of the latter, we have seen this in connectivity and custody.