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.

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