Lure of funds management grows
Working in the funds management industry has become a more popular choice for investment professionals than other areas such as investment banking according to financial recruitment specialist.
Working in the funds management industry has become a more popular choice for investment professionals than other areas such as investment banking according to financial recruitment specialist.
Citipeople Group managing director David Twiddle says the shift to funds management has, in the UK and European markets, been driven by the rise of funds which have more risk and are seen as more exciting places to work.
“When looking at the funds management industry the profile has risen which means it is receiving more attention within the financial services job market. This is an overall trend and as more come in it will become even more attractive,” Twiddle says.
“Previously investment banking was seen as the sexy area but that has moved to funds management due to investments like hedge funds. There is a real shift from the buy side of the business to the sell side.”
Twiddle says this shift is occurring in the USA and the UK as part of the huge growth in demand for wealth management. At the same time there is also a shift in dealing with private clients from just managing money to treating them as small size companies and providing a much greater product range.
“It is easy to move from an institutional background to servicing private clients as products are more akin to each other. This is something we have not seen previously as in the past the movement went the other way,” Twiddle says.
However the future does not remain bright for all those working in financial services with Twiddle stating that some jobs will dry up as demand and need drops away.
“Anything that can be done online such as money broking will find a reduced market. Most of the changes will be in the front end but the back end will continue to have a role as needs there still remain strong,” Twiddle says.
“The question intermediaries across the globe are tackling is how to reposition themselves so that they remain in the process.”
AUTHOR
Jason Spits
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