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Private equity firms eye banking hires to serve wealthy investors: ‘There’s a run on the bank for talent’
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Private equity managers are competing fiercely for talent as they attempt to build out their capacity to raise money from wealthy individuals, a new and still mostly untapped source of capital for the industry.
The largest alternative asset managers have this year dramatically increased the pace of hiring in their private wealth divisions, the units focused on attracting capital from high-net-worth investors. This competition for market share and a relatively small pool of candidates have created intense jockeying for top...
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