Funds & Asset Management Market Update Q2 2016

Michael Costello / July 13, 2016

Funds & Asset Management

Market Overview

To date in 2016, we have seen a migration of live roles on offer from the large bulge bracket operations to the smaller more niche players in the market. This has resulted in a more selective recruitment process where the level of experience of candidates has been key.

Within fund administration the growing popularity of the AIFMD model has resulted in increased demand for investor services / shareholder services professionals, with KYC /AML particularly in demand. This has not gone unnoticed on the continent and we have seen a significant increase in the applications from foreign candidates especially in this space as they have identified Dublin as the most likely place for continued growth in fund listings.  In fact, the total number of funds now domiciled in Ireland is now 6,242 totalling 1,831 Billion AUM equalling exactly the AUM serviced here in non Irish domiciled funds.

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Fund Accounting

Within fund accounting itself we have seen a slowdown with some firms choosing to relocate some parts of their business to India and Poland. Although this is not a new phenomenon we can probably see the trend continuing in the more “heavy lifting “functional roles where boots on the ground are the ultimate goal. However, we believe the FA space is about to get a welcome boost with a number of large Dublin Headquartered administrators having won tender bids recently and these roles are scheduled to come on line end of Q3. As these will be completely new projects, all levels of fund accountant will be in demand from junior right up to management level.

Risk Management

Risk analyst and risk management candidates have been extremely high demand. From market facing risk professionals at asset managers to derivatives and options pricing professionals to operational risk related jobs we have seen a remarkable uptick. Those quality candidates with a quantitative background are at a premium with the Fintech sector also looking to plug into this source of talent.  We only see this a growth area with increases year on year in graduates from masters programmes in quantitative finance.

Asset Management

The second half of 2016 promises to be at the very least dynamic and exciting with an unprecedented opportunity for the Irish funds and asset management industry.  

With respect to Asset Management and the repercussions of Brexit, such a seismic event cannot be underestimated and especially with the ramifications it may have for funds and asset management industry in Ireland. The second half of 2016 promises to be at the very least dynamic and exciting with an unprecedented opportunity for the Irish funds and asset management industry. Suffice to say it should hopefully provide opportunities for many, especially those with front office experience looking to repatriate back home and also those candidates who previously would have had to make the move abroad to further their career in areas such as execution trading, sales trading, derivatives professionals, relationship management, equity & fixed income sales, FX and the requisite supporting roles such as risk and operations that these will need to function smoothly. The second half of 2016 promises to be at the very least dynamic and exciting with an unprecedented opportunity for the Irish funds and asset management industry.

If you are thinking of a move this Q3, for a confidential discussion please contact me on mcostello@lincoln.ie or call 01 661 0444.

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