The Volcker Rule is driving talented traders to leave large, well-known Wall Street investment banks for hedge funds, Reservoir Capital founder Daniel Stern said at the Skybridge Alternatives (aka SALT) investor summit Wednesday.
"I get a call a day from head hunters looking to place talent," he said.
The Volcker Rule, part the Dodd-Frank financial reforms, limits proprietary trading by investment banks.
"The best talent is coming to market within the next year," Stern said.