Updated with correction.
A novel website is handing the power in the recruiter-candidate relationship back to the candidate.
Veteran headhunter Claude Schwab, whose street cred includes heading three hedge fund search practices in traditional executive recruitment shops, has listened to the complaints of thousands of hedge fund portfolio managers, chief investment officers, chief financial officers and chief operating officers about the job market.
These job seekers have shared their “frustrations in confronting an information marketplace that is incredibly fragmented, unresponsive, (indiscreet), rife with outdated or fake job postings from unknown intermediaries, and plagued by a conflict of interest that pits them against many intermediaries/ search firms,” said Mr. Schwab in an e-mail conversation about his new venture.
“From these frictions and frustrations, www.hfobserver.com, was born ... we've inverted the model and made the individual, not the hedge fund, our client,” Mr. Schwab wrote.
The subscriber-based network lets hedge fund professionals screen potential employers, rather than the other way around. The website partners with established hedge funds and alternative investment managers, and reputable search firms to present exclusive hedge fund job opportunities to an elite clientele of industry professionals.