A Temporary Solution

The Wall Street Journal yesterday reported that Lehman is a hot hiring “gig” for ex-Wall Streeter’s as Alvarez & Marcal–the New York City-based restructuring firm charged with untangling the Lehman mess–is managing teams of professionals in the liquidation of all sorts of investments, including a big bundle of real estate. Not surprisingly, Alvarez is being flooded with resumes of top talent from other fallen or weakened institutions. The liquidation is going to take two years or more, so the finance types lucky enough to be hired have a sort of job security–at least in terms of today’s market–and the pay is not bad either. This is just one example of how the demand for talent exists in today’s economic malaise, but it is predominately for temporary assignments. As companies cut back on their organizations and restructure, they find that there are special needs–such as loan workouts–which require exceptional talent, that’s on the street.

Tony LoPinto is CEO of Equinox Partners, an executive search firm specializing in the real estate industry, and parent company of SelectLeaders. The views expressed in this article are the author’s own.
Job Opportunities
SELECTLEADERSPortfolio Manager, Real Estate Investments(NEW YORK CITY) The manager will monitor the performance of investments relative to original underwriting expectations and take appropriate action to address discrepancies.

DEVELOPERS DIVERSIFIED REALTYGeneral Manager(HUNTERSVILLE, NC) The manager will manage the physical plant functions of properties by overseeing all aspects of facility maintenance, housekeeping and security and oversee construction projects directly or indirectly related to tenant finish/capital improvements.

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