By : Corrie Smith , Posted on: 25th, February 2025

Defining a clear career trajectory: From executive assistant to operations manager.

The executive assistant (EA) or personal assistant (PA) role is integral to the seamless operation of a hedge fund, family office or private equity firm, ensuring administrative efficiency and providing critical support to senior leadership. As professionals in this role seek career advancement, the role of operations manager often emerges as a natural next step. However, the hedge fund industry presents unique challenges in title alignment, requiring careful navigation for career progression. For firms, clearly defined career pathways enhance employee retention, engagement and overall operational effectiveness. For professionals, aligning career ambitions with industry norms ensures smoother transitions and better long-term opportunities.

This article explores the evolution of the role of executive assistant, the challenges of title alignment in hedge funds, and best practices for structuring career progression.

The progression pathway

For executive assistants looking to broaden their responsibilities, moving from office manager or operations manager role offers the opportunity to engage with business strategy and organisational leadership. These positions extend beyond administrative support and include:

Expanded responsibilities - overseeing internal processes such as vendor management, compliance coordination and operational efficiency.

Financial management - managing budgets, controlling costs and optimising resource allocation.

Direct engagement with senior leadership - working closely with the C-suite to implement strategic initiatives.

Greater business oversight - more involvement and a proactive approach to identifying inefficiencies and driving operational improvements.

This shift is more than a title change. It represents a move towards a leadership role with greater influence over business operations. However, the term ‘operations manager’ is often associated with trade support and back-office functions within hedge funds, which can create ambiguity for professionals seeking career progression in broader business operations.

Title alignment challenges

Industry norms can sometimes complicate career progression pathways as the operations manager title is frequently used to describe middle and back-office roles related to trade operations, which differ significantly from business operations management. This misalignment can make it difficult for professionals to position themselves accurately within the industry.

To ensure clarity and maintain alignment with sector expectations, alternative titles may be more appropriate, such as:

- Head of business support

- Operations business support

These titles better reflect the expanded scope of responsibilities while distinguishing the role from trade-related operations. Choosing the right title is not just a matter of terminology - it plays a crucial role in aligning with industry expectations and enhances credibility in future career moves.

Considerations by firm size

The size and structure of a firm also shape career progression. Larger hedge funds tend to have more clearly defined career trajectories, whereas smaller firms often require professionals to adopt a more multifunctional approach.

Larger firms

Traditionally, alternative investment firms run lean administrative teams until they have more substantial AUM:

- There will more often be dedicated roles such as chief people officer or head of business operations rather than a traditional chief of staff position.

- There are more structured career pathways to enable professionals to specialise in HR, finance or operational strategy.

- Career progression may involve movement into leadership roles within operations or human resources.

Smaller firms

Leaner administration support means that individuals are required to manage a wider range of responsibilities, often blending administrative, operational and strategic functions within one job specification:

- They can require individuals to take on broader responsibilities, often combining operations, HR and administrative leadership.

- The chief of staff title is more prevalent but may have a broader scope than in corporate settings.

- Career trajectories are less defined, making role expansion and title negotiation essential for professional growth.

Understanding these structural differences allows professionals to make informed career decisions and position themselves for future opportunities.

Recommendations for professionals and firms

To ensure a smooth and effective transition from an EA or PA role, both professionals and employers can take proactive steps.

For professionals seeking career progression:

Develop a clear professional roadmap – Identify key skills required for an operations role, such as financial management, strategic planning and compliance oversight.

Seek relevant qualifications – Certifications in finance, project management or an MBA can strengthen credentials.

Engage in industry networking – Learning from peers in similar roles provides insights into best practices and evolving job expectations.

Negotiate job titles carefully – Ensuring that role titles reflect actual responsibilities avoids misalignment within the industry.

For firms looking to structure career progression:

Define career pathways – Providing structured career progression frameworks improves staff retention and fosters long-term commitment.

Standardise role expectations – Delineating business operations vs trade operations ensures clarity in internal structuring.

Offer upskilling opportunities – Supporting employees in developing strategic, financial and operational expertise prepares them for leadership roles.

Ensure title alignment – Avoiding ambiguous titles helps maintain industry recognition and prevents role confusion.

Professionals and firms can foster a well-defined and future-proof career progression strategy within the hedge fund space by taking a structured and informed approach.