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Hedge funds hiring IT contractors

eFinancialCareers UK – Man Group has been spending freely on technology over the last year, and is expected to continue to do so going into 2010. To carry out the new projects, it’s been hiring an ever-growing team of contractors, a tactic other hedge funds are also employing.

Operating costs amounted to $275m in the financial year to March 2009, and the hedge fund giant incurred a "significant increase in technology costs", with projects being rolled out to "increase the scalability and robustness of our infrastructure and to support the growth of our business in the future".

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