Hedge fund recruitment consultant Edwin Ostrand has forecasted increased and highly selective hiring by the hedge fund industry in 2010.

“Hedge funds are hiring again. That’s the good news,” says Ostrand.

“However, the most successful ones are engaging in highly focused searches for specific skills. They are not looking randomly for talent on job boards. They are looking for specific talent that brings them not only skills and value, but also passion and a good corporate fit. They are using specialised recruitment firms to find them as they realise the very best talent, in most cases, may not even be looking to move to a new firm.”

Ostrand predicts that there will be hiring in 2010 as hedge funds grow. However, he says this is not across the board.