Marshall Wace, PAG Executives Blast Hedge Funds' Excessive Payouts
- Expensive hiring war leads to commodification of talent
- Eight-figure signing bonuses, outsize pay bad for clients
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Hedge fund executives including Paul Marshall of Marshall Wace and Chris Gradel of PAG blasted excessive payouts from some so-called platforms for fueling a talent war in the global industry.
While on some levels justified, the business model has led to the “commodification of human talent” and “merry-go-around” where new recruits stay for only two or three years before being fired only to then turn up at rivals, said Marshall, co-founder of the $59 billion investment firm.