By Luuk Jacobs
By Eva Keogan
By Jonathan Max
By Luuk Jacobs
By Andy Milner
Announcing our new report - The Disrupted Career: Fintech, Innovation and the Future of Careers in Investment ManagementBy 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?
Many professionals will need to develop more technical skills, and not just in traditional technology roles. Even where ‘hard’ skills around coding, AI and data science will not be important, there will be an expectation that professionals will have a more holistic view of how technology underpins the business.
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
The Disrupted Career - FinTech, Innovation and the Future of Careers in Investment Management ReportBy 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.
By Julia Kirkland
Guest blog from Julia Kirkland, Senior Partner at FSTP
If you don’t know already, which of course you do, the Markets in Financial Instruments Directive (MiFID) is EU legislation which first came into effect in 2007. It was created to regulate firms providing services to their clients which are linked to ‘financial instruments’, these being shares, bonds, units in collective investment schemes and derivatives. In addition, it covers the venues where those ‘financial instruments’ are traded.
Fast forward 10 years or so and we have an updated version – MiFID II. This includes the revised MiFID and a new Markets in Financial Instruments Regulation (MiFIR). January 3, 2018 is the day MiFID II must be implemented across Europe.
Now we’re on the cusp of this deadline, the thorny and sensitive topic of Knowledge and Competence (K&C) is bubbling up as a major concern across the industry. We’ve spoken with numerous firms in both the Asset Management and Wealth Management sectors and they have one thing in common; they’re all grappling with the assessment of competence of information providers.
Who is in scope?
In Asset Management, this may cover a wide range of roles from sales teams, client services, broker servicing staff to Portfolio Managers (the really sensitive aspect of K&C). Managers may struggle with the fact they must tell a Portfolio Manager of 20 years plus who hasn’t got a formal qualification, they need to be assessed as competent and in a very short timeframe too.
In Wealth, the scope may cover desk assistants, team secretaries and portfolio assistants who may all be in direct contact with clients, giving them information about prices, valuations, charges and providing generic market or sector views. Additionally, research teams who might attend meetings with clients to provide market, sector or stock views on a non-advised basis may fall under this too. Most of the firms we are speaking to are including research teams. Most of the above staff members have never been included in formal K&C Schemes before but this has changed.
What happens in 2018?
As it stands, information providers not assessed by January 3 will need to be supervised in their activities and oversight of any client interaction must be in place. If you’re not prepared, January 2018 is fast approaching and maybe it’s time to look outside your company for third party support and assistance.
Our guest blogger Julia Kirkland, is Senior Partner, FSTP
FSTP is a training solution provider with expertise in MiFID II and the company also runs workshops to cover Wealth and Asset Management to meet the ESMA requirements and provides advanced K&C assessments for more seasoned, professional staff.
By Colin Ng
Metrobank has not been having a good few months starting with an accounting scandal in January exposing a weaker capital position than anticipated. Today the FT reports that Ben Gunn will move away from his current role as most senior independent director to take on a newly created role as deputy chairman of the board.
He (and quite a few others on the board) have passed the recommended 9 year board tenure under corp gov code.