Matthew Giannini's move from Citadel to Walleye Capital highlights the increasing significance of business development roles in hedge funds, reflecting a broader industry trend.
The business development role has transformed into a highly sought-after specialty due to the rapid growth of multimanager hedge funds, which have attracted $200 billion in assets since 2019.
Despite a drop in total assets managed by hedge funds in 2024, the talent war continues for business development professionals, with 2,400 new hires reported in the sector.
Hiring in business development has surged, aligning with the overall headcount increase at multimanager hedge funds, which has grown by 90% compared to just 6% at others.
#hedge-funds #business-development #talent-recruitment #multimanager-funds #financial-industry-trends
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