Citywire.co.uk – The polished doors of the poshest hedge fund offices in St. James’s Park have been closed to humble private client managers in recent years.

As the good times rolled the retail market place was of little interest to hedge funds. But now hedge fund managers have been reduced to crowd control stewards – gradually shepherding assets out of their funds – they are discovering the benefits of diversifying into the private client market.

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Tags: assets, citywire, client managers, crowd control, doors, fund-managers, good times, hedge fund, private-client, retail market, rsquo, s park, st-james, stewards

West Palm Beach (HedgeCo.net) – Pioneers in the field of offshore law, Conyers Dill & Pearman, (Conyers) is expanding its Cayman Islands presence with three new associates as attorneys-at-law. Stephen Leontsinis has joined the Litigation team, while Tania Dons and Preetha Pillai have joined the Corporate Department.

“Our superior investment funds and litigation capabilities have reinforced our reputation as a preferred firm to partner with in transactions of this nature." Richard Finlay, Managing Partner of Conyers’ Cayman Islands office, "We continue to expand our team in line with our strategic plans to build on the strengths and capabilities of our Cayman Islands practice. We are proud of our reputation as global leader which attracts such depth of talent and are delighted to have Stephen, Tania and Preetha join us.”

Since its establishment in July 2003, Conyers’ Cayman Islands office has grown into a full service practice with a current complement of 20 lawyers and 60 staff. The growth of the Cayman Islands practice complements Conyers’ continued growth globally. Last year, the firm opened three new offices in Moscow, Mauritius and São Paulo, as well as making several key hires. Today, Conyers comprises of over 550 staff in 11 jurisdictions with more than 150 lawyers.

With over 150 lawyers, Conyers Dill & Pearman advises on the laws of Anguilla, Bermuda, British Virgin Islands, Cayman Islands and Mauritius from those islands and from Dubai, Hong Kong, London, Moscow, and Singapore. The firm has earned clients’ trust, loyalty and respect by consistently providing responsive, timely and thorough advice on all aspects of offshore corporate and commercial law, commercial litigation and private client matters.

Alex Akesson

Editor for HedgeCo.Net
Email: alex@hedgeco.net

Tags: accredited-investors, attorneys at law, british virgin islands, commercial litigation, conyers, conyers dill, finlay, global leader, investment-funds, litigation team, loyalty and respect, offshore law, palm-beach, pearman, pillai, private-client, strategic plans

West Palm Beach (HedgeCo.net) – Employment offers in financial services fell by 11% in September compared to 6 months ago, according to Powerchex Limited, a pre-employment screening firm for financial institutions.

Research by Powerchex showed that Investment Banks made the biggest cutback with 52% less jobs being offered in September compared to 6 months ago. Uncertainty about the world economy heightened with the collapse of U.S investment bank Lehman Brothers, meaning that investment banks are reluctant to hire with the fear they may be the next to falter. Unemployed stockbrokers will also be worried by the news that there has been an 11% decline in the amount of jobs being offered by brokerage firms.

Despite this, investment managers saw a 22% increase in job offers as rival firms take advantage of the increasing number of financial services workers looking for a job by “snapping up the cream of the crop on much less than they would have been able to 6 months ago”, said Alexandra Kelly, Managing Director of Powerchex Limited.

Hedge fund and insurance companies also made more employment offers than 6 months ago as those companies who have been able to remain stable through the turmoil prepare to put themselves at the head of the pack to take advantage of any economic recovery.

IT contractors based at financial services firms have been the big winners with a 30% rise in job offers. Harvey Nash, whose business is predominantly IT outsourcing, this year announced a large rise in profits and strong revenue growth. The trend towards temporary workers is likely to continue as companies attempt to avoid long term commitments in the current economic climate, coupled with the fact that there are more highly skilled workers willing to take on temporary positions.

According to financial recruitment specialists Morgan McKinley, there has been a 42% rise in the number of financial services workers looking for a job in September, with this number likely to rise, those who are unable to secure permanent positions will be forced to accept temporary roles.

“The employment landscape in financial services is getting decisively more difficult, with offers being made only to the best candidates” says Kelly. “Applicants are well advised to be very candid in their CVs, as even a small discrepancy may disqualify them from a job they can ill afford to lose”. “I expect to see a rise in CV discrepancies, as the competition for financials jobs becomes more fierce”, she concludes.

Alex Akesson

Editor for HedgeCo.Net
Email: alex@hedgeco.net

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