Asset Management

Asset management businesses have been faced with a stark choice in the last year, build a regulatory or compliant business or scale back and run family-office type entities. The market has seen both options being taken.

Robert Featherstone, Partner, JD Haspel says: “We found we were relatively quiet in the first two quarters from a front office, risk-taking stand point. It was evident our clients were hiring a lot in terms of risk and compliance to make sure they were fully operational if they were to continue as hedge funds rather than going down the route of family offices.

“However by Q3 Featherstone says the tide had begun to turn and confidence was returning to the market. “We started getting a lot of requests at the end of Q3 for alpha generators due to capital inflows, strong performance and our clients subsequently found themselves underresourced from a front office standpoint.”

His comments echo findings from KPMG’s Evolving Investment Management Regulation report which highlights that the regulatory uncertainty of the past years has settled down. It predicts that 2014 is the year the wheel turns. The sector is now entering the implementation phase of regulation with much greater clarity.

This new environment for asset management is being ushered-in now according to Charles Harvey, Director, Per Ardua: “The broad revival and the increasingly testing regulatory environment have both been major contributors to the resurgence of recruitment in asset management.

“The recovery has allowed firms to take a longer-term strategic view of where they want to go rather than having to focus on shorter-term issues. They can think about where they want to be in 2020.” And according to KPMG, this

opportunity couldn’t have come at a better time. Its Investing in the Future report, predicts that by 2030 the client base of a typical asset manager will be completely different to today’s as Generation X approaches retirement, Generation Y matures and middle classes in emerging countries grow.

With insurance firms and banks taking the brunt of the financial crisis fallout, perhaps asset management fell behind the curve in terms of investing in some of these functions - it is now catching up. Harvey adds: “There is real recognition of the importance of quality leadership across these functions now, and demand is increasing as a result.”

Further investment has come from the US, where firms are looking to build-out their London operations. Featherstone says: “The European market has been a little bit cagey since the European credit crisis but things are starting to turn and a number of firms are in growth mode and if they haven’t started recruiting, at some point they will – it’s a very positive place in terms of hiring.”

Asset Management industry consultant listings

Blackwood Group

Martina Ashley - Asset Management, Hedge Funds, Family Office, Endowments

Harry Chetwood - Asset Management, Hedge Funds, Family Office, Endowments, Private Wealth Management

CTPartners

Aiden Kennedy - Private Wealth Management, Alternative Wealth Management

Deidre Kenny - Financial Services, Asset & Wealth Management

Egon Zehnder

Joe Haim - Private Capital

Richard Murray-Bruce - Sustainability, Real Estate, Board Appointments, Alternatives

Mark Paviour - Asset Management, Wealth Management, Sovereign Wealth Funds

Execuzen

Bill Allum - Private Banking, Asset Management

Hanover Search Group

Paul Groarke - Institutional Asset Management, Alternative Investments, Liability Driven Investment

Heidrick & Struggles

Andy Smith - Asset Management

Richard Thackray - Private Equity

Hogget Bowers

Andrew Stewart - Asset Management

JD Haspel

Robert Featherstone - Alternative Investments, Hedge Funds, Asset Management, Proprietary Trading

Korn Ferry

Karin Barnick - Asset Management, Alternatives, Financial, Wealth Management

Frank Hollmeyer - Asset Management, Alternatives

Harry Pilkington - Asset Management, Alternatives, Wealth Management

Norman Broadbent

Adam Turner - Private Equity

Odgers Berndtson

Peter Fox Linton - Institutional Asset Management, Private Banking, Alternative Investment, Real Estate, Private Equity, Hedge Funds

Richard Ker - Asset Management

Russel Reynolds Associates

Amanda Foster - Asset & Wealth Management

Sainty Hird & Partners

Rupert Mathieu - Asset Management, Wealth Management

Sheffield Haworth

Patrick Morrissey - Asset Management

Simon Worthington - Wealth Management

Spencer Stuart & Associates

Chris Hart - Asset Management

Stonehave Associates

Michelle Rosenbauer - Asset Management, Hedge Funds, Private Equity

Valentine Thomas & Partners

Basil Reid Thomas - Asset Management, Alternatives, Wealth Management