Having worked with Asset and Wealth Managers since day one, it has grown to be the largest sector for us over the past five years. We place Digital, Data, Technology and Business Transformation/ Change specialists on a permanent and contract basis for some of the biggest players in the City.
We really understand our clients and the multiple factors that are currently at play; these include digital disruption / transformation, increased regulation, changes in fee structures, managing or removing legacy systems, use and management of Data and the growth of Fintechs.
Technology & Data effectiveness is ‘front and centre’ in the future operating model story. New technologies will mean increased use of AI, RPA and ML which are acting on enriched data sources and data sets, this will transform all areas of the organisation; to remain competitive Asset and Wealth Managers will need to continue investing in Tech and the people that drive that transformation.
The search for talent and the next generation of AM professionals will be a differentiator for the successful AM of the future. Capturing the millennial hire is important, as is having a compelling environment within which the Gen X or Y worker wishes to work and develop, and all the time focussing on the creation of a truly diverse workforce.
The skills most in demand are in the following areas:
- Data Management
- Decision support technologies which exploit data captured or the ‘data estate’ will be crucial e.g. Data Management / Artificial Intelligence / RPA & Automation & Productivity Management / NLP / ML
- Platform Technologies e.g. Aladdin / Charles River
- Outsourcing business model development and execution e.g. Selection, Deal and Agreement development and negotiation, SLA and Run aspects of o/s deals
- Growth and Distribution Strategy Development
- Alliances development and partnering approaches and best practice
- Tech Savvy people where data analysis will be as or more important than fund analysis
- Skills encompassing architecting, managing and designing the programmes / projects which deliver the above will be in high demand