Hedge funds 'will mop up bank talent'

Date: Monday, January 25, 2010
Author: London Evening Standard

Mayfair's hedge fund industry could enjoy a huge influx of talent if the Obama proposals go through.

If traders are banned from taking potentially lucrative risks on their own bank's account they may look to move to established hedge funds or set up their own, say watchers of the industry.

The hedge-fund sector has recently begun to recover from the turmoil of last year, when some funds suffered such bad results they were forced to close.