PRETTY UP THOSE RESUMES!!! While many doors are closing on investment professionals due to the credit crunch, there are at least a few others that are opening. The mega-wealthy sovereign wealth funds are hiring from the west and will pay big bucks to attract talent at many levels from private equity and investment firms. And they’re looking for high profile execs as well. China Investment Corporation is said to be interested in former Fed chief Alan Greenspan.
All it takes is a lot of the green stuff. And they have it….
Sovereign wealth funds are struggling to
attract top-notch executives to help deploy their investments and are having to
offer more generous remuneration and hire headhunters to remedy the problem.Financial sector specialists believe the
more aggressive tactics will help SWFs poach some of the most talented
executives from western private equity and investment firms.As state-backed funds in Asia and the
Middle East increasingly flex their financial muscle, they are seeking both
investment professionals with experience of western and Asian markets and more
high-profile non-executives to bolster their legitimacy and the political
contacts of their advisory boards.China Investment Corporation, the
country’s new $200bn foreign exchange fund, plans to approach Alan Greenspan,
former chairman of the US Federal Reserve, to join its international advisory
board.“Nowadays, the only way to attract good
people is by offering big salaries. Everyone uses headhunters – it is all
based on price,” said one senior staffer at the Abu Dhabi Investment
Authority.With private equity finding big deals
tougher since the credit crunch, more buy-out executives could be tempted to
switch to SWFs, which are raising record amounts and attempting more
high-profile deals.
Sovereign funds boost pay to lure executives - Financial Times
Tags: Revolving Door
