Funds management recruitment is down but not out.

Vacancy volumes are lower than 12 months ago mainly because of a lack of new inflow through retail and institutional channels, says Ashton Bilbie, director, Profusion Wealth Management.

“The associated lack of revenue stymies growth plans for funds managers. Most opportunities within the industry are a result of resignations and musical chairs,” he adds.

So which jobs are still in demand? Matt McGilton, director, Kaizen Recruitment, points to some:

· Firms need distribution and business development professionals across both retail and institutional markets as they try to improve their fund flows.

· Business analysts with middle and back-office operations and systems implementation experience are in demand. A number of large institutional funds have given the green light to new projects.

· Professionals with ETF experience are popular because the number of ETF issuers and products continues to increase.

· Fixed interest, infrastructure and quantitative analysts are the most sought after analyst positions across buy-side funds, superannuation funds and asset consulting.

Firms are also focusing on institutional client services and relationship management as they look to retain their existing asset base, says Bilbie.

But not many investment bankers are currently moving to the buy side, he adds. “This was more common in the candidate-short bull market.”

And it seems that candidates have developed a preference for larger firms since the GFC. “The predominant reason for this is security,” says Bilbie.

Which firms are activity hiring at the moment? Another headhunter, who asked not to be named, highlights three:

· Vanguard: Especially across projects and business development.

· Australian Unity Investments: Business analysts and BDMs

· BT Investment Management Limited: Mainly due to natural restructuring