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  • Eva Keogan
    Eva Keogan

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    Introducing AlgoMe

    AlgoMe is the innovative start up using intelligent technology to expedite and augment career development and job placement in the world of Asset Management, the wider Financial Services industry, and recruitment.

     

    What is it?

    AlgoMe is a web and mobile-based membership community of professionals. It is available in launch phase to the Asset Management community in the UK and Europe. Professionals will be able to create a free profile to access jobs across a number of sectors including Asset Management and Fintech; as well as direct questions to experienced professionals or match with mentors who have the knowledge to help them reach their career goals.

    HR managers and project leaders will be able to create a presence and share job opportunities within their organisations as well as search and discover the right person to match their requirements.

    Pre-register now and to keep up to date.

     

    The company in good company

    The company is founded by Rob Carter (formerly Aberdeen Asset Management) and Luuk Jacobs (previously at Aviva). Their deep knowledge and experience of the industry has given them the first-hand insight and awareness of the core issues and challenges they have set out to solve with AlgoMe.

    The AlgoMe team is based in the heart of London’s tech city and is on the doorstep of the Asset Management community. It has a group of highly experienced advisors drawn from HR, Financial Services, Law and Technology. There is a wider network of ‘beta tester’ executives who have road tested the website and technology and will remain part of the agile development strategy. The first wave of industry feedback has been hugely positive; businesses and professionals alike feel this solves many career and recruitment issues.

    The name AlgoMe (pronounced Al-go-mee) combines the abbreviated Algorithm “Algo”, with “Me” to embody  a ‘match’ using algorithms, with an emphasis the on the individual’s professionals needs through “Me”.

     

    The Vision

    AlgoMe sees itself as a platform that will soon prove itself as the new way of career and talent management. It expects to support the careers of thousands of professionals in the financial services industry, helping them find their next job opportunity, the connections, tools and services they need, and to keep growing professionally. Equally, AlgoMe believes companies will widely adopt this new platform to engage directly with the relevant professionals to find the right individual at the right time, in a matter of days or weeks instead of months.

     

    Making career mobility a reality

    The AlgoMe vision has another facet too. It aims to help professionals take charge of their career, helping them move towards their goals more quickly. Finding the right job or employee is important but so is career progression and personal development. Professionals are usually hired on the basis of their last job, but may risk not being able to continue their careers by changing employer. AlgoMe will provide professionals access to mentoring, coaching, training and volunteering opportunities. The AlgoMe ‘professional profile’ reflects what the individual is actively doing to manage their career. This has a positive benefit in giving companies more confidence in hiring professionals for their next career aspiration, rather than their last job.

    Moving Asset Management forward faster

    Like many business sectors, Asset Management has experienced rapid change in recent years. This means professionals need to upskill constantly in the face of new demands and companies need to find people with the right skillsets quickly to implement change.

    Current market conditions mean fees are tending downwards and there’s increasing complexity from new regulation coupled with the fast pace and adoption of technology. In such times of narrowing margins, access to the support, learning and knowledge individuals to develop may not necessarily exist. In parallel to this shortfall AlgoMe has identified, the recruitment industry is lagging behind as well, hindered by high fees, low transparency and inefficiencies from the heavy use of manual processes and duplication and redundancy within operating models. The knock-on effect is that the search for talent and the right people, with the right skills, available at the right time is vastly hindered.

     

    The Benefits and How it Works

    AlgoMe helps businesses and individuals become agile and unencumbered by these issues. Its intelligent network and matching service, using proprietary technology, has numerous benefits. It discretely matches people seeking access to career development knowledge and connections; allowing individuals to meet new people for mentoring or networking without having data in the public domain. As a result, personal development and career progression can now match the pace of the evolving industry. The major benefit of using AlgoMe to find personnel is the recruitment process is expedited and highly efficient due to the algorithms and quality matching. Businesses and professionals who have completed the registration process, are able to directly engage with relevant matches. It’s rather like a dating app in that you get to determine if the match is right for you before your data is shared.

    AlgoMe is currently in beta phase and will be launching fully in Spring 2017.



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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
        • Like
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  • Categories

  • Related Content

    • 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. 
       
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      We're looking forward to announcing more partners in the near future, so watch this space.
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      By Jonathan Max
      Really interesting article from HRB on whether Men and Women needed different kinds of networks to succeed following a study on the networks of male and female MBAs suggests that males being successful in the workforce was largely dependent on being active in a social network where as women often also sough an 'inner circle' in addition to a broader network. 
       
      Would be great to hear what our MBS/MSc members think?
       
      Research: Men and Women Need Different Kinds of Networks to Succeed
      HBR.ORG Results from a study of MBAs.  
       
       
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      By Andy Milner
      According to Ignite Europes they are:
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    • Eva Keogan
      By Eva Keogan
      Last week was our inaugural panel session for Cass Business School where we gathered some really interesting people together to talk about the future of work in our sector. 
       
      We have mainly grown online since we launched AlgoMe Community, so it was a great experience to extend into the real world and meet students who are at the beginning of their careers and others who are already well into them, and on a path to pushing themselves further. Attending were current MBA and MSc students and alumni of Cass, and we were delighted to see such a diverse and engaged audience. We hope most, if not all, of them are now actively participating in our community. If you’re registered as a mentor, you might start receiving a few more requests.
       

       
      The purpose of the evening was to talk about the Impacts of FinTech to careers in Investment Management and marry up the insights and views of the panel with our audience and also to get a feel for what the next generation of investment management professionals had set in their sights. 
       
      To do this, we shared some of the early findings from our FinTech, Investment Management and future careers Survey (we will be releasing this shortly and doing a follow up article in the community too). This allowed us to create a truly interactive debate as we put the same questions to our audience. They were then able to give feedback via the AlgoMe Community app in real-time (and thankfully it all worked beautifully without a glitch too).
       
      The key questions we wanted to hear the views of the audience and panel on were:

      -    Are career paths less well defined due to the changes happening in the industry?
      -    What skills will be the most important to develop careers in Investment Management?
      -    Will FinTech and Innovation be positive or negative for future careers?
      -    What are the most important things to do to be successful?
       

       
      There was a general feeling both Investment and Asset Management are ripe for disruption and there as an opportunity and threat of this coming from the outside due to the slow adoption of new technologies by the industry. This led into a discussion about technology skills and a skills gap. There was consensus among the panel about career paths not being too rigid, applying skillsets to new challenges can be a highly successful strategy and also advice to 'follow the good people'. 
       
      Then panel consisted of Rob Carter (CEO, AlgoMe),  Ruben Lara, Chief Data Office, Standard Life Aberdeen, and Olivia Vinden, FinTech and Innovation Practice lead at Alpha FMC. Both Ruben and Olivia are members of the Advisory Panel for Velocity, the FinTech accelerator of the Investment Association, so their excellent insight into the way that FinTech is reshaping the Industry was extremely useful, and of course credible.  Luuk Jacobs chaired the panel, he is co-founder of AlgoMe and AlgoMe Consulting. Each panellist was able to share their unique views of the industry and Fintech and offer career tips too. We’ve had some excellent feedback from the audience about this as well.
       
      We are looking forward to an ongoing programme of panels and events over the coming months. If you would like to hold something similar with us at your place of work, we are happy to develop this with you as a breakfast, lunch session or evening event – please get in touch with any of the AlgoMe Community team for more info.
       

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