News Digest:

Leading private equity firms are jousting for private wealth-focused talent in the U.S., as they seek to expand their nascent platforms focused on securing investment mandates from high-net-worth individual investors.

Takeaway:

The biggest alternative asset managers have this year significantly ramped up the pace of recruitment of investment advisers and marketers in their private wealth management units, seeking to poach top talent from mainstream financial services firms such as banks and mutual fund managers.

Private wealth hires by the top buyout firms more than quadrupled in the first quarter of 2022 on a year-on-year basis, and more than doubled in the second quarter through June 24, as per executive search firm Jensen Partners.

End Notes

Source: https://www.wsj.com/articles/private-equity-firms-poach-talent-to-chase-wealthy-investors-11657017002