Hiring on the Buy Side down 32% so far this year in Institutional Sales & Client Services

Hiring across all areas of Institutional Sales & Client Servicing over the first five months of 2011 has fallen 32% against the same period last year.

Hiring figures for April and May 2001 continued to perform weakly when compared with the same months last year ‐ with a 38% and 72% falls respectively (though some of the May movers may yet be announced). Hiring for the first three months performed reasonably strongly ‐ though still 17% down on the same period in 2010. But the long holiday season in April, combined with weakening markets contributed to a softening of demand as the year has progressed.

Hiring continues to be largely sales focused (as opposed to Client Servicing focused), and previous year's 'barbell' hiring pattern means that hiring continues to be focused on the senior and junior levels ‐ with the main brunt of the fall happening at the mid‐level.

At this stage in the year, we do not see any signs of a sharp improvement in sentiment, so we would expect this year to continue relatively weakly ‐certainly at the mid‐level.

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Some noteable senior hires this year have been:

In May:

• Maria Wuergler joins Lombard Odier as Head of Pan‐European Sales.
• Neil Bridge joins MAM Funds as Head of Business Development.
• Monica Fan joins Millennium Global Investments as Head of Institutional Sales for Benelux.
• Michael Moth‐Greve joins Affiliated Management Group as Head of Institutional Sales for the Nordic region.

In April:

• Oliver Bilal joins Pioneer Investments ** as Head of Institutional Sales for Germany. *Jenny Segal joins **Old Mutual Asset Management as Head of Institutional Sales.
• Michael Greve joins Affiliated Managers Group as Head of Institutional Sales for the Nordics region. *Carolyn Patton joins Turner Investment Partners as Global Head of Client Relationships.
• Kanesh Lakhani joins ** First State Investments**as Head of Business Development for EMEA.
• Ronal Nagel joins JP Morgan Asset Management as Head of Institutional Sales for the Benelux region.

In March:

*Rob Lay joins UBS Global Asset Management as Head of Distribution for Europe and the Middle East. *Stephen Hearle joins **Pyramis Global Advisors as Head of UK Sales. * Tim Bird joins T Rowe Price as Head of UK Sales. * David Thompson joins European Credit Management as Head of Marketing. *Ian Harvey joins LV= Asset Management as Head of Institutional Business Development. *Firas Mellah joins Bank of Monreal as Head of Institutional Sales for the MENA Region. * Astrid Colleen joins Union Bancaire Privee as Head of Institutional & Wholesale Sales for the Netherlands * Mark Miller joins **Blackstone Alternative Asset Management as Head of UK Defined Benefits.

In February:

• Robert Hegt joins Ashmore Investment Management as Head of Global Institutional Account Management.
• Martin Gut joins BlackRock Investment Management as Head of Institutional Business for Switzerland.
• Graham Elliott joins BNP Paribas Asset Management as Head of Institutional Business for the Middle East.
• Maria Cantillon joins State Street Global Advisors as Global Head of Alternatives Sales.

In January:

• Pierre‐Olivier Pourcelot joins Reyl & Cie Asset Management as Global Head of Sales.
• Christine Bergstedt Jorgensen joins Baring Asset Management as Head of Sales for Europe.
• Roger Price‐Haworth joins **BNP Paribas Asset Management as Head of UK & Ireland Institutional Clients.
• Keith Rumbelow joins Swiss & Global Asset Management as Head of UK Sales.
• Howard Luder joins Baring Asset Management as Head of Sales for Germany.
• Genia Diamond joins Cantab Capital Partners as Head of Business Development.
• Johan Hamilton joins Allianz Global Partners as Head of Business Development for the Nordic Region.
• Tom Leavitt joins Unigestion as Head of Global Institutional Clients.
• Craig Horvath joins Dimensional Fund Advisors as Global Head of Consultant Relations

For more detailed briefing on Hiring trends in the Institutional Sales & Client Service space, please call Stuart Chilvers on 020 7183 8862

• Several Charts depicting 2011 Hiring Trends
  Click on the Link above to see 4 charts showing hiring trends