Recruiting experts are predicting a relatively flat job market for the fund industry in 2005, although the trading scandal continues to reshape the boardrooms and executive suites of fund management firms, big and small.

In its annual investment management recruiting report released last month, New York executive placement firm Russell Reynolds Associates indicated that overall hiring slowed in 2004. While 2005 should provide greater opportunities for top-line managers in some investment areas, the industry is still far from its heyday of the late 1990s.

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