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Market Overviews

WEALTH & ASSET MANAGEMENT MARKET COMMENTARY, Q4 2015

• Article by BRUIN Financial

WEALTH & ASSET MANAGEMENT MARKET COMMENTARY, Q4 2015

MARKET OVERVIEW

Over the final quarter of 2015 we can reflect back on a year which has seen a steady flow of jobs, and an overall increase in activity from 2014.

The months of October and November saw a steady push of new roles to be filled before the Christmas break, as hiring managers looked to start the new year with a full team complement. The positions we have seen have mainly fallen within traditional remits of Performance, Client Reporting and Institutional Client Services.

We have seen a continued number of roles from some of our global Asset Management clients focused on Product Development and Management. These positions have spanned over mid and high level. It has continued to prove tricky to find candidates at the mid level from 65-75k as candidates in this space are often on development plans internally and look for internal progression rather than moving on at another firm. In terms of asset class focus, the majority of the roles have been requiring UCITS but also with several positions focused on Real Estate and the continually growing DC area.

The Product Specialist area has also been a continued focus in the latter end of this year with the majority of positions in senior or technical positions on the fixed income side. The senior roles have proved tricky to fill as the positions require such broad and malleable experience from the candidates to carry out the tasks needed.

We have also seen an increased number of entry level positions. Roles at this level, though they are looking for 2014 or 2015 graduates are still very competitive and do require a significant level of experience – around 6-9 months of internships or work experience and often already hold their IMC qualification which some even study at University.  These are very attractive opportunities and we have seen roles in Client Reporting, Service, Performance and Dealing  offering a good entry into an asset management firm where you can learn key product knowledge and then progress internally. Though there is a wealth of candidates at this level, there are also many roles in this space so good candidates can often find themselves with multiple offers on the table. The key here is to move fast once identifying a suitable candidate and offer a significant salary, normally closer to the 30k mark.

Client Order and Dealing roles have also continued to be a focus for larger asset managers with some firms having to restructure these areas due to increased volume of business and the risks associated with the increased activity in this area.

Performance has had a steady high level of roles throughout the whole of 2015 with a focus on junior or senior level hires. At the junior end, graduates with internship or placement year experience are highly sought after and often can receive salaries up to 45k. At the senior level, salaries remain around the 50-60k mark and have a strong focus on asset class experience. GIPS has also been an area of focus at the end of this year, with GIPS compliance now being an expected norm by investors. It is often tricky to find suitable candidates at mid level as they often use this position as they use this role as a stepping stone to more investment aligned roles, looking for their next move to be closer to the front office.