THETRADETECH DAILY
THE OFFICIAL NEWSPAPER OF TRADETECH 2021
KIRSTIE MACGILLIVRAY : adapting to the new normal
Head of multi-asset dealing at Aegon Asset Management , Kirstie MacGillivray , tells the TRADETech Daily about how her trading desk has evolved with remote working and the challenges in hiring new talent during the global pandemic .
How has your trading desk evolved with remote working conditions ? We have experienced a rapid evolution under remote working conditions . When we first went remote , I think universally we were all extremely nervous about the prospect . All our dealers sit close to the portfolio managers and they are used to maintaining communication throughout the day . A year on , everybody is now very settled in the remote environment . We have adapted to new ways of communicating and the new infrastructure works well . I have the same set up in my sitting room as I have in the office .
The communication was the hardest part for us and that was where we had to put the work in but now , we use a variety of different technologies and we have those communication lines open all day in the same way that we did in the office . The reality is that the days of having all the portfolio managers sitting nearby are gone and so we will have to continue to be more reliant on the virtual communication tools rather than our traditional voice .
Managing a hybrid desk with a mix of dealers and portfolio managers who are in and out of the office will present a new challenge . It could create a two-level team and we need to ensure everyone remains on a level footing . When working in the office it is easy to have a five-minute chat but the key is ensuring the right people are involved in those conversations . If it needs to be a conversation with all the equity dealers and one of them is working from home then that conversation needs to be had virtually .
“ I am hoping that these new flexible working conditions will give us greater ability to select more diverse talent .”
Presentism is very prevalent in our industry and that is something I want to guard against in the hybrid model . It is not about who is sitting in the office , it is about who is doing the work and making sure that we are involving everybody .
What were the main challenges for your team in adapting to the changes ? The main challenge was communication . People were used to just shouting over to one another and that all had to become virtual . At the start , I insisted on over-communication to minimise the risk of things being authorised incorrectly or instructions not being fed through properly . The second challenge was the technology . For the first four to six weeks we were using a network that had never been set up to have that many members of staff online remotely . If there were connectivity issues then people were asking to stagger logging on in the morning . There was also a list of people who were critical users and took priority if access was limited .
Has it become more difficult to recruit new talent during the pandemic ? If so , how have you overcome these difficulties ? The individuals that have been hired during this period have never physically met any of their team and indeed the people they are reporting into . It is the little conversations that you have during the day in the office that are important and these are being missed . As a manager , it is also harder to keep an eye on your team and make sure they are ok . For
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