THETRADETECH DAILY THE OFFICIAL NEWSPAPER OF TRADETECH 2023
Alison Hollingshead : We need to make our industry more attractive and more accessible
The COO of Jupiter Asset Management talks to The TRADETech Daily about the challenges of recruitment – and why , contrary to popular opinion , coding isn ’ t everything when it comes to the desired skillset for a trader .
Do you think trading desks are challenging themselves enough in the talent recruitment process ? Why ? There clearly continue to be challenges in terms of achieving the right level of diverse talent on trading desks across the industry . I don ' t think that is up for debate anymore . We are all agreed that diversity of thought and diversity of background lead to better outcomes .
There does need to be focus from the trading desk in their recruitment process , but it ' s tough to put it all on them . In an environment of volatile markets and cost pressures from all directions , how much can they do ?
The head of desk needs to be held to account on approach and process but is an issue for the broader organisation . It ’ s a collective responsibility . Often there is pressure to get someone in quickly and a person who can hit the ground running . A firm needs to be willing for it to take longer and to take risks on people with different backgrounds and different experience .
How do you think they could better challenge themselves ? I think we all need to try a bit harder and be a little less risk averse when it comes to looking in different places and taking chances on who we find .
And then once we have hired them , how do we keep them ? Role modelling , sponsoring , and mentoring are key . You have to make space for people and support and nurture them .
How has the evolution of trading evolved the desired skillset in a trader from a recruitment perspective ? Our industry is one of constant change . From technology innovation to market dynamics to regulation , the only guarantee is that next year will be different to this one . The most important ability is a willingness to adapt and change . To be successful and at the top of your game , you need a questioning , data driven , decision making mindset .
You don ’ t need a coder per se – if you ’ re trading high touch , high yield EM , python isn ’ t going to get you liquidity . While data and tech utilisation are incredibly important in trading nowadays , it is still a relationship business where the key skill is engaging with people . When you see market dislocation like we have recently , lots of business switches back to high touch .
“ You don ’ t need a coder per se – if you ’ re trading high touch , high yield EM , python isn ’ t going to get you liquidity .”
However , you need to able to leverage all the information at your disposal , analyse it and use the output to reinforce or challenge your decision making .
How has the recruitment process adapted to capture individuals with this changing skillset ? Broadening out where we look for talent . We need to make our industry more attractive and accessible . Try and attract people with different backgrounds , and the younger generation who are by circumstance naturally more tech savvy and adaptable . Initiatives like Investment2020 and ReturnHub who we work with at Jupiter , graduate schemes , apprenticeships , etc ., all provide access to different groups of potential talent , and time on the desk . Hands-on experience of the exciting and fulfilling jobs that are available [ is also important ].
At a firm level we are focusing on financial literacy . We are connecting with potential populations early in their education or career and giving access to people who might not have experience or knowledge of asset management .
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