The buy-side environment remains mixed, with ongoing corporate action; consolidation, mergers and acquisitions, creating more opportunities for junior talent with up-to-date skills and experience, whilst also pushing long-term employees unexpectedly into the market.
The global macro-backdrop remains a key driver in the shift to alternative assets, particularly those with inflation-hedging, real-return outcomes. Candidates with experience in private market assets and strategies are also in-demand.
ESG, SRI and Impact Specialists are also on companies’ radars, to ensure funds and strategies that integrate ethical considerations into the investment process are accounted for, as investors increasingly look for socially responsible investment opportunities.
Interestingly, there is a severe shortage of experienced RFP specialists who are available for work in London, with experienced candidates being offered competitive compensation packages and a selection of opportunities with high-ranking firms.
CHALLENGES FACING THE MARKET
The issues of flexible working and candidate-short markets continue to impact the market.
Companies and candidates are still trying to find a middle-ground in terms of working policies. The environment has been in a period of transformation due to the pandemic, and companies need to make accommodations to experienced candidates who now demand a more flexible working environment in order to secure this talent.
Certain sectors within front-office remain candidate short, with stellar prospects being able to command 1st quartile compensation packages. Notably, RFP Specialists, historically seen as merely an entry-point into asset management, are increasingly sought after.
The global macro environment has pressurised income statements, placing renewed constraints on HR departments and hiring managers. This is creating an environment where less expensive new talent is more attractive than legacy staff who are demanding higher compensation packages.
OPPORTUNITIES IN YOUR MARKET
There are a number of technical skills that are proving attractive to hiring managers, including individuals with specialist skills in ESG, SRI or Impact investing. Professionals in alternatives/private market assets and strategies are also in demand, as well as experienced Distribution candidates with established networks and proven success track records. Experienced RFP specialists who are available to work in the city are also at the top of hiring managers’ priorities in the market.
If you are interested in learning more about live opportunities, or you would like to discuss how we can support your hiring processes in the current market, please get in touch with Gareth Connellan, Principal Consultant in Asset Management.