As investment banks adapt to the changed marketplace, their appetite for staff is changing. Restructuring in the front office, as banks move away from debt-related products to focus on the equity market, has led to a higher demand for individuals with a thorough understanding of more structured products.
A fragile optimism has returned to the market, with some leading banks posting strong H1 2009 profits despite continued concerns over bad loans. As banks continue to re-structure and develop their profitable businesses, we are seeing a shift in resources to these areas.
The biggest focus for recruitment within banking operations at the moment is the equity derivative market.
While this is good news for those who have the right product and market exposure, the picture isn’t so rosy for those who don’t. Banks without a major investment banking arm are still struggling under loan losses without the ability to offset this pressure.
The biggest focus for recruitment within banking operations at the moment is the equity derivative market. In addition positions within operations continue to be middle office focused and in many ways mirror front office recruiting trends.
For some professionals, particularly those focused within structured equity derivative products, this could be a good time to dust off that CV and explore what the job market has to offer. But job seekers are advised to do their homework.
The most forward-thinking investment banks are investing heavily now in ensuring they are positioning themselves for the future – both in terms of their structure and their staffing. You will need to prove you are instrumental to doing this successfully. Be prepared for technical questioning, know your products and your markets, and demonstrate how you can add value to their organisation.
