The scandals clouding the investment management industry are having a strong impact in executive search activity, according to recruiters.
"There's some paralysis right now," said Glenn Mills Buggy, managing director at recruiter Korn/Ferry International, New York.
"Searches aren't going out as companies deal with internal housekeeping matters. But there is more activity in the institutional market than in the mutual fund area. Firms are trying to find people to market to pension funds and to provide client services."
"Investment firms are filling slots that need to be filled, and fixing strategies that need to be fixed," added Jane Marcus, managing director at recruiter Heidrick & Struggles, Chicago. "But if people think of a new strategy they want to introduce or a new market into which they want to expand, they may put that type of search on hold."
She added that companies are doing more strategizing about searches now and assigning the actual searches later.