BUSINESS
07/16/2008 05:12 am ET Updated May 25, 2011

Hedge Funds Poach Talent From Weakened Investment Banks Like Bear Stearns

Hedge funds are on a hiring binge, taking advantage of cutbacks at investment banks. Star traders, senior executives and whole teams have been recruited by funds recently as they look to capitalize on the banks' woes for their own expansion, The Financial Times reports.

On Monday Goldman Sachs lost one of its top traders to GLG Partners. Other high-level recruitment from banks has been led by, among others, Citadel, Tudor Investment and CQS, the Financial Times wrote.

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