Howard Diamond Quoted
By John Aidan Byrne
Wall Street has had its fill with the Type-A risk takers who can cost a firm billions after they have made their millions and moved on.
The hiring focus now is on the back-office compliance staff to rein in the risk takers. But the Street also can’t find enough rock-star talent to advise America’s wealthiest individuals.
These financial advisers and private bankers belong to an exclusive club — one of the few bright and rewarding exceptions in a generally dismal Wall Street jobs scene.
“The only way brokerage firms are going to grow is by increasing their assets under management. That necessitates recruiting advisers and, in some cases, paying them monster deals to join,” according to Howard Diamond, managing director of Diamond Consultants, a recruiter of top adviser talent.
