Searches for investment management marketing executives and research analysts are increasing, while those for portfolio managers are decreasing, statistics from executive recruiter Russell Reynolds Associates, New York, show.
In a report on more than 200 investment management searches completed by the firm in 1996, Russell Reynolds' executives also note demand remains strong for finance, legal, human resources, information systems and other staff professionals within expanding investment organizations.
According to Russell Reynolds, requirements for chief executives of investment organizations also are changing. The call increasingly goes out for individuals knowledgeable about the broadest possible range of asset classes, including alternative investments.
With a higher profile for retail investments, more companies also are seeking candidates who are able to serve as the firm's spokesman or spokeswoman.
Demand for mutual fund portfolio managers with marketable track records remains high, but the overall number of portfolio managers who exercise discretion over their holdings is not substantially growing. Decisions on issue selection and portfolio construction increasingly are being made by the leader of a firm's product group, Russell Reynolds said.
The growth in marketing searches is largely concentrated among firms trying to grow their defined contribution business, the report noted.
As the market continues its push into uncharted heights, Russell Reynolds sees no sign of a slowdown in recruitment demand in 1997.