The equity management industry is bracing itself for a burst of hiring activity, following the decision by Schroders’ UK investment chief Richard Buxton to move to Old Mutual Global Investors.

Noting that a series of bonuses had just been paid, one headhunter said hiring activity was already picking up: "Three years ago, no one had the confidence to move somewhere new. Now, the situation is different. People like Old Mutual are brushing up their hiring plans."