Some people have so much money that they have to hire their own money manager.An article in Reuters reports that wealthy families are trying to poach hedge fund managers from some firms to come work for them instead.
This “family market” isn’t very big – Hunter Advisors, a recruiting firm, estimates there are 300 to 500 family offices in the US.
Are Paulson and Soros not good enough? Or maybe they just charge too much, so these families are looking to hedge funds, hoping to poach some of their star traders.
We imagine working for a rich family could be a great job.
It could also suck, but most hedge funders seem open to trying it out anyway. Hunter said 90 per cent of respondents in their survey were interested in exploring job opportunities with family offices.
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