After a rough 2008 in which almost 1,500 portfolios closed, hedge funds and bank trading desks are hiring again, and the top managers are being snatched up quickly, Reuters reports.

Citadel, RBC Capital Markets, Artradis and Tribridge have begun hiring more staff as returns improve and redemptions slow down.

"Things have definitely turned around," said Bob Olman, founder of recruitment firm Alpha Search Advisory Partners.

Olman said hedge funds and proprietary trading desks are hiring, and the volume of job placements is up threefold from the first quarter, with the biggest growth coming from hedge fund marketing efforts.

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