Buy-side Perspectives Issue 16 | Page 34

The opinion of 129 buy-side heads of trading on cultivating greater buy-side gender diversity The opinion of 129 buy-side heads of trading and senior traders about how to cultivate greater gender diversity at the buy-side trading desk Anita Karppi, MD, K&K Global Consulting As already discussed at the 7 th annual ATF Global Summit on the 6 th and 7 th February in London, K&KGC under took the responsibility to investigate how the buy-side community could cultivate greater gender diversity at the buy-side trading desk. Following up this task, we discussed the issue at the recent Alpha Trader Forum (ATF) debates in Stockholm, Paris, Frankfurt and London and it was enlightening to see the number of men and women who feel strongly about this issue, with some explaining their individual efforts to ensure there is no bias in their recruitment efforts and are recruiting talent of both genders from a more diverse pool. The research also highlighted the important pre-requisites enabling such activities. Here is a graph showing an overview of opinions from 129 buy-side heads of trading and senior traders across regions and asset classes: As we discussed already at the 7 th ATF Global Summit 6 – 7 February in London, K&KGC was taking on the responsibility to investigate how the buy-side community could cultivate greater gender diversity at the buy-side trading desk. Following up this task, we discussed the issue at the Alpha Trader Forum (ATF) debates in Stockholm, Paris, Frankfurt and London and it was touching to experience how much both men and women really care and are already making individual efforts to ensure that there is no bias in their recruitment efforts and subsequently are already recruiting talent both genders. research to highlighted as well as Diversity: What of do you think The is needed attract both and activities retain more important pre-requisites enabling such activities. gender diversity in our business? Diversity: What do you think is needed to attract and retain more gender diversity in our business? is balance a graph More Here work/life – e.g. showing more flexible an hours, overview working from of opinions from 129 buy-side heads of trading and senior traders and asset classes: home, personal breaks across during the regions day. Possibilities to work from home and more flexible working hours Shorter market from hours (e.g. 9:30am start rather than 8am) We know previous discussions that this is not possible in all firms to work from home due to compliance and system limitation concerns but other firms are seriously implementing for staff to Attract the Attract younger generation the with a possibility more relaxed environment to work from home which makes it more attractive to Amazon work and at other their firm and compete vs. Google, considered “cool” the buy-side said that the additional empowerment placed a feeling of responsibility to work harder in return. The workplaces possibility to work from home and flexible working hours is not a requirement for women but leave enables for both men and women to share family Shared paterental with the the father possibility Scandinavian style responsibilities such as dropping and picking up their children from school or day care. Regardless if this incentive was given to a man or woman, we in the finance Back-up staff to enable more flexible working industry could make a statement leading the way for other industries to do the hours/maternity/paternity leave for more flexible hours that Monday to Friday same. The important pre-requisites would of course be that trading desks need sufficient staffing arrangements with processes staff to cover when individuals are not working. Such staffing Broadening the search and pool for job candidates to ensure there is arrangements no should bias. be considered as part of the firm’s contingency plans to permit sickness leave, holidays and parental leave anyway. Many asset management firms still do not have such staffing contingency plans and we get to Reviewing the listed requirements for the open jobs to make hear horror stories of how trading staff are forced to work and de-subscribe to legally sure they are really necessary and there is no bias. required working conditions. Reaching out to a wider range of universities for temporary job Shorter market hours experience in junior roles to educate about the "good side" of finance industry. pertinent within equities trading but trading hours in other This topic is the particularly asset classes would potentially be impacted if European exchanges shortened their hours. has exchange open hours and both bank sponsors as well An annual Europe day where you can the invite longest daughters to work day. as equity trading buy-side has firmly made a statement that it is unnecessary to keep the overlap with three Asian markets. The peak in equity trading in the morning would still remain if the exchanges opened later and it would make a significant Other impact in the work life balance for traders and make the asset management and 0% copyright: K&K Global Consulting Ltd. 2019 34 www.buysideintel.com 20% 40% 60% 80% 100% Responses Summer 2019