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  • Rob Carter
    Rob Carter

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    AlgoMe – the year in review

    With the decorations up, the last order date for Amazon nigh and most of us looking forward to at least a few days break, it’s always a good time to take stock of what’s been achieved over the last 12 months.

     

    For AlgoMe this has been another exciting year.

     

    January started in style with the launch of the AlgoMe Careers mobile app – giving professionals the opportunity to find their next career opportunity on the move.

     

    Then in July we released our Industry Pulse Report – a check on what the industry was thinking about key topics such as Brexit, Pay Gap Reporting, MiFiD II and GDPR. Unfortunately it seems that the uncertainty that the industry was feeling due to Brexit is unlikely to have receded in the intervening period, but it’s good to see progress starting to be made in other areas such as gender and diversity.

     

    In September we launched AlgoMe Community – a place for the Investment / Asset Management industry to come together, providing professionals with ways to grow their knowledge, profile and network. We’d like to say a big thank you to all of the members that have joined and contributed and look forward to continuing growth in 2019.

     

    In November AlgoMe joined the Investment Association, becoming a Fintech member and working closely with Velocity, the Association’s new Fintech accelerator. This is a really exciting initiative and we’re looking forward to doing more with Velocity in the near future.

     

    We also launched our Mentoring matching service in November – designed to help AlgoMe Community members connect with the best individuals within the community to help them to reach their career goals using a simple but intelligent process. If you haven’t already signed up to be a mentor or a mentee, please do spend 5 minutes now and tick off a New Year’s Resolution early.

     

    As we go into the end of the year, we have also launched our survey on Investment Management, Fintech and the future of careers. The impact of Fintech on the industry is going to accelerate rapidly in 2019, but what has been less well documented is the impact on individuals, their careers and the skills they’ll need to succeed in a more digitised environment. We really value the input of our community members, so please spend a couple of minutes filling out the survey and we’ll make sure you’re the first to hear the results early next year.

     

    From me and the AlgoMe team, I wish you all a very happy holiday season and look forward to another year of exciting announcements and change in 2019.

     

    Rob

     

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  • Our picks

    • With the decorations up, the last order date for Amazon nigh and most of us looking forward to at least a few days break, it’s always a good time to take stock of what’s been achieved over the last 12 months.
       
      For AlgoMe this has been another exciting year.
       
      January started in style with the launch of the AlgoMe Careers mobile app – giving professionals the opportunity to find their next career opportunity on the move.
       
      Then in July we released our Industry Pulse Report – a check on what the industry was thinking about key topics such as Brexit, Pay Gap Reporting, MiFiD II and GDPR. Unfortunately it seems that the uncertainty that the industry was feeling due to Brexit is unlikely to have receded in the intervening period, but it’s good to see progress starting to be made in other areas such as gender and diversity.
       
      In September we launched AlgoMe Community – a place for the Investment / Asset Management industry to come together, providing professionals with ways to grow their knowledge, profile and network. We’d like to say a big thank you to all of the members that have joined and contributed and look forward to continuing growth in 2019.
       
      In November AlgoMe joined the Investment Association, becoming a Fintech member and working closely with Velocity, the Association’s new Fintech accelerator. This is a really exciting initiative and we’re looking forward to doing more with Velocity in the near future.
       
      We also launched our Mentoring matching service in November – designed to help AlgoMe Community members connect with the best individuals within the community to help them to reach their career goals using a simple but intelligent process. If you haven’t already signed up to be a mentor or a mentee, please do spend 5 minutes now and tick off a New Year’s Resolution early.
       
      As we go into the end of the year, we have also launched our survey on Investment Management, Fintech and the future of careers. The impact of Fintech on the industry is going to accelerate rapidly in 2019, but what has been less well documented is the impact on individuals, their careers and the skills they’ll need to succeed in a more digitised environment. We really value the input of our community members, so please spend a couple of minutes filling out the survey and we’ll make sure you’re the first to hear the results early next year.
       
      From me and the AlgoMe team, I wish you all a very happy holiday season and look forward to another year of exciting announcements and change in 2019.
       
      Rob
       
        • Like
      • 0 replies
    • I have always struggled to see a fair reason why employers should be allowed to ask about a potential hire’s current remuneration, other than to give them an advantage in pay negotiations.
      It’s something which can only exacerbate existing pay inequalities and  it’s abolishment can surely only be a positive thing.
      Here the Guardian argues specifically about its impact with regards to the gender pay gap:
      https://www.theguardian.com/commentisfree/2018/aug/23/gender-pay-gap-current-salary-question
      I believe this has already been outlawed in some US states?
      @Jonathan Max - would be interesting to hear the view from HR. 
      • 10 replies
    • The Investment Association recently gave the industry a boost when it announced the launch of Velocity, its FinTech accelerator.  Designed to identify, develop and accelerate best in class firms with innovative solutions, Velocity will champion and facilitate the wider adoption of technology across the industry.
       
      And AlgoMe will be involved in this too, which is why I’m excited to announce we are now a member organisation of the Investment Association as an official FinTech member and have been named a "company to watch" by Velocity.
       
      Challenging Times
      The Investment Management industry faces major challenges and opportunities from forces such as digital technology, pressure on fees and increased regulation, while at the same time there are widespread changes in the workforce and their expectations.
       
      To date, Investment Management has both been fairly insulated from the challenges posed by agile FinTech competitors, but also distant from the opportunities offered by the new technologies and ways of thinking that such companies bring.
       
      Bringing FinTech closer
      Velocity is a fantastic step towards accelerating the adoption of FinTech. It has received support and endorsements from both inside and outside the industry, including from the Chancellor of the Exchequer, Phillip Hammond, who was enthusiastic about the initiative at a recent City event.
       
      To drive change and innovation, the industry needs to connect across different disciplines and areas of expertise, driving new ways of thinking and fostering cultural change.
       
      Without the benefit of emerging FinTechs and their external expertise, it will be hard for incumbents to harness the benefits of emerging technologies such as Straight Through deal Processing (STP), Distributed Ledger Technology (DLT), and Artificial Intelligence (AI) in areas such as risk and compliance, securities trading and investment decision making.
       
      Our Mission
      AlgoMe's mission is to connect the Investment Management industry and empower professionals to manage their careers. Our new product, AlgoMe Community, is placed to become the hub for the discussion between FinTechs and the companies and professionals in the wider Investment Management ecosystem.
       
      Join AlgoMe Community today
       
      AlgoMe Community - community.algome.com
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  • Categories

  • Related Content

    • Luuk Jacobs
      By Luuk Jacobs
      The adoption of FinTech will bring significant changes for the future of Investment Management - from which products are offered to clients and how they are delivered, to the overall structure of the Industry itself. This level of disruption will also impact the future careers of the individuals working in or entering the Industry today.
       
      According to the European Fund and Asset Management Association (EFAMA), there are 610,000 professionals employed directly or indirectly across Europe in the Investment Management ecosystem, with over 100,000 in the UK. Which of these roles could disappear over the next couple of years, where are the opportunities and how should you navigate the disruption?
       
      In our latest report, The Disrupted Career: FinTech, Innovation and the Future of Careers in Investment Management, we explore how FinTech is changing careers across the industry, and how professionals are being impacted by and are responding to these changes.
       
      DOWNLOAD THE REPORT
       
      Disrupted Career Paths

      Our report found that very few areas within Investment Management will not be impacted by technological change; the career paths of the future will be radically different. 
       
      Professionals will need to embrace a more flexible approach to career planning. In addition, future job growth and progression opportunities will be concentrated in FinTech and in roles driving innovation in existing Investment Management functions.
       

       
       
      Will We All Be Coders?
       
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      However, this will not negate the importance of soft skills, and blending skill-sets will be critical for the most successful teams and individuals.
       
      With the industry expecting strong growth with a target of doubling of AUM over the next decade, those who position themselves to embrace the coming changes can look forward exciting opportunities.
       
      To find out more, please read the full report.
       
      DOWNLOAD THE REPORT
    • Luuk Jacobs
      By Luuk Jacobs
      The Disrupted Career
       
      Welcome To The AlgoMe Report On FinTech, Innovation And The Future Of Careers In Investment Management
       
      This report aims to address key questions that are important to everyone working in or looking to join the Investment Management Industry.
       
      How significant will the impact of FinTech be on career paths? How likely is my current role to be affected? Where are the opportunities in this disruption? How can I best position myself for future success?  
      We asked a panel of Investment Industry professionals their views.
       
      The full report is available for download to all AlgoMe Community members. Not already joined? Becoming a member takes less than a minute.
    • Rob Carter
      By Rob Carter
      Brexit, MiFID II, GDPR, Gender Pay Gap and Diversity are the themes we consider top of mind currently which is why we’ve created the Summer 2018 AlgoMe Industry Pulse Report.
       
      We wanted to get under the skin of some of these key events and burning issues for 2018. In doing so, we revealed some very interesting results and statistics.
       
      Given a choice of 7 cities, Dublin, Paris and Amsterdam are the top three choices for Asset Managers, Fintech and Financial Services employees to relocate to following Brexit. While 54% would not consider moving as a result of Brexit.
       
      When it comes to regulation; we are not surprised to find MiFID II and GDPR will affect over 60% of the roles in the industry.
      Positively, 59% believe Gender Pay Gap Reporting will improve the career progression of women.
       
      Please read the report for the full information and do get in touch if you would like to know more about your industry workforce.
       
      Rob Carter, CEO, AlgoMe
    • Andy Milner
      By Andy Milner
      Following our successful event at Cass Business School in January, AlgoMe is teaming up with another of Europe's leading higher and executive education institutions with a panel discussion at Imperial College Business School on 3rd April.
       

       
      We will be joined by another panel of industry leaders to discuss the impact that the FinTech revolution is having on the demand for skills in the Investment Management industry and what individuals looking to enter or progress careers in the industry can do to help them succeed.
       
      Joining Rob Carter, CEO of AlgoMe and Ruben Lara, Chief Data Office of Standard Life Aberdeen, will be Ben Lucas, Partner in UK Wealth & Asset Management at EY, and Henrik Grunditz, Co-Founder & Chief Revenue Officer of Hivemind, a FinTech that is helping companies create value from complex data sets.
       
      Attendance is open to students and alumni of Imperial College Business School, and we will be sharing highlights of the discussion with the AlgoMe Community.
       
      If you have any questions that you would like to be put to the panel, please comment below, or send them to us via our other social media channels.
           twitter: @thisisalgome
           linkedin: algome
       
       
      Panelists
       
      Ben Lucas
      Ben is a Partner within the UK Wealth & Asset Management practice at EY. Prior to joining EY, he was a Practice Lead for Alternatives within Alpha Financial Management Consulting. Ben previously worked for EY as a Management Consultant and also for Zurich Financial Services. Ben has extensive experience across the Financial Services industry, with a particular focus on Asset Management and Alternative Investment. He has worked in senior strategy, advisory and change management roles based variously in London, New York and Paris.
       
      Henrik Grunditz
      Henrik is a co-founder and the Chief Revenue Officer of Hivemind. Prior to co-founding Hivemind, Henrik was a senior vice president at Winton Group, a large quantitative hedge fund where he was responsible for business development with institutional investors in Europe. Prior to joining Winton in 2013, Henrik spent 5 years at MSCI / RiskMetrics where he was responsible for developing the multi-asset risk analytics business across various client segments in Europe. Henrik started his career in management consulting, working in Accenture’s Capital Markets practice. Henrik holds a First Class Master’s degree in Information Systems Engineering from Imperial College London. At the end of 2018, Hivemind was just one of five companies selected for the inaugural cohort of Velocity, a FinTech accelerator programme run by the Investment Association (IA)
       
      Dr Ruben Lara
      Ruben is Chief Data Officer at Standard Life Aberdeen. Prior to joining Standard Life Aberdeen in 2016, Dr. Lara held senior positions at Vodafone, where he was Head of Big Data Analytics, and at Telefonica, where he was Head of Big Data Product Development and Innovation. Ruben started his career in financial services, working as a technology consultant specialised in data and analytics. Ruben holds a PhD in Artificial Intelligence and has received the First National Award in Computer Science from the Spanish Ministry of Science and Education and sits on the advisory panel of Velocity.
       
      Rob Carter 
      Rob is co-founder of AlgoMe and is an experienced Front Office change consultant with a diverse skill-set built during almost 15 years of working in Financial Services. Rob has worked across the complete project delivery lifecycle over a range of Investment Management and regulatory focussed initiatives; including, leading investment integration work streams of mergers between a number of major asset managers. He was formerly Head of Fixed Income and Equities Platforms at Aberdeen Asset Management and is a CFA Charterholder.
    • Andy Milner
      By Andy Milner
      Our mission at AlgoMe is to connect the Investment Management Industry - the professionals that work in it, as well as the Asset Managers, FinTechs and other organisations that make up the wider industry ecosystem.
       
      That's why we're excited to announce our first cohort of AlgoMe Community Partners - companies that work within Investment Management and share our ethos of working together to address the challenges and opportunities facing the Industry. They will become active participants in the Community, keeping us up to date on their diverse areas of expertise by sharing their insights and events, and helping answer your questions.
       
      On each Partner's profile page you can find out more about the company, see articles published by them, discussions related to them, and a list of associated members.
       
      If your organisation would like to join as an AlgoMe Community Partner, please get in touch via the Community or by email to community@algome.com.
       
       

       
      Velocity is the FinTech Accelerator by the Investment Association, designed to identify, develop and accelerate best in class firms with innovative solutions, facilitating the adoption of technology within asset management. 
       

       
      Cass Business School is one of City, University of London’s five Schools. It’s among Europe’s leading business schools and in the global elite of business schools that hold the gold standard of ‘triple-crown’ accreditation. 
       
      Alongside its MBA, Cass offers a number of Masters courses including an MSc in Investment Management.
       

      Cleveland & Co is a specialist outsourced legal team, with a market leading reputation for providing the highest quality legal services in the investment management sector. 
       

       
      Saffron Robo is a software, services and support company that provides a cloud based, end to end Robo solution designed to offer front-end to back-end functionality, for all product ranges including: EFT’s, Funds, Equities, Bonds and Fixed Income products, via a secure hosted web based solution. 
       

       
      FSTP is an award-winning training and consultancy services company, helping firms in the Investment Management industry improve compliance and governance standards.
       

      ClauseMatch is a regulatory technology company with a unique SAAS offering, that enables financial institutions to streamline regulatory change management through effective organisation of internal policies, standards, procedures, and controls. 

       
      People Risk Solutions is a client-focused Human Resources consultancy, with a passion for improving business performance through the development of high-performing people.
       

      Waymark uses AI to continually monitor and analyse regulatory changes, and makes recommendations to corporate and consultancy clients to ensure compliance. With the ever increasing changes in regulations, WayMark lets firms work smarter and achieve more with existing resource. 
       
       
      We're looking forward to announcing more partners in the near future, so watch this space.
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