As an executive search consultant, Bob Olman of Alpha Search Advisory Partners uses his expansive network of contacts to connect hedge funds looking to hire with experienced, qualified individuals at other firms.When Olman spoke to Business Insider earlier this week, he said he’s been hearing about a new clause some hedge funds are putting in their employment agreements that limits how specific an employee can be when describing their job on LinkedIn.
It’s not exactly a “trend” per se, and Olman said it’s something he is seeing “spottily so, but I’ve never seen it before.”
It’s easy to assume that the restriction is probably just to ward off headhunters and recruiters, but Olman said the secrecy is actually related to the make-up and operation of the hedge fund itself, and any new investments the firm may be starting (and hiring for) and want to keep secret.
“These are overwhelmingly private companies. They have proprietary investment processes… how they organise their departments and people, and how they break up and parse out the job functions,” he said. It’s “more broadly about keeping secret what they’re doing, how they’re organising and who does what.”
There you have it.
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