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can make the critical difference when it matters most.”
Though both co-heads concede that trading will continue to move towards greater digitisation and automation, they maintain that human side of things will remain extremely valuable in the future.
“ Today in credit, the 10- 100 million tickets are still very much bilateral or voice traded, and this won’ t disappear any time soon. Yes, efficiency and transparency will improve with faster data prints, but it risks eroding the interpersonal dimension of market engagement- the instinctive read of tone, conviction, or urgency that comes through voice interaction.”
“ While technology will empower traders with more data and streamlined workflows, the art of relationship-building and real-time negotiation may diminish. The challenge for the next generation will be balancing digital efficiency with the human connectivity that has historically underpinned effective markets.” In the same vein, Frew adds that the two most important lessons which stand out when reflecting on his career thus far relate to exactly those personal skills, specifically patience and relationships.
“ Patience is essential in managing illiquidity, volatility, and timing- knowing when not to act is as important as knowing when to act [ and ] equally vital is the cultivation of strong sell-side relationships. Liquidity can evaporate in times of stress, and it is during crises that trusted relationships prove their worth.”
Evidently both Frew and Guesnet have their fingers firmly on the pulse of their sphere, both committed to continuing to foster Pictet AM’ s highly collaborative culture, embracing oncoming innovation and continuing to prioritise the high level of industry insight at their disposal.
The co-heads’ leadership philosophy, built on transparency and partnership, with“ no rivalry, no silos, and open communication,” looks set to continue to be a successful one.
As Frew attests:“ The trick is trust- we are joined at the hip as HR inform us and this co-head structure is one that is promoted […] we complement each other’ s strengths both professionally and personally, and that cohesion cascades across our global team.”
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