The Transfer Portal

#leaders #talent

We have entered the transfer portal time of year on Wall Street. You want your best talent to be sticky, but despite onerous sit-outs, good people will still leave. Investors should be ready for re-adjusting on re-entry and managers should do all they can to make the best feel at home. Then maybe they’ll stay awhile.

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How talent moves:

We had a little scare for hedge funds last fall when non-competes were banned by the FTC. However, a federal judge later ruled they could still be enforced. Even so, my gut says that may not have been the last of the attempts by the FTC. In the meantime, Wall Street firms will continue to hold employees out with non-compete agreements for periods that can exceed one year – ostensibly to protect trade secrets and proprietary techniques. Be on alert for two things that can (and often do) happen when people sit out: