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2010 News

Low interest rates - are they here to stay?


September 2010

How will this affect the recruitment market in the UK and Europe?

It is likely that interest rates will stay lower for longer than many expect. A combination of reduced government spending and higher taxes should negate any inflationary threat, allowing the Bank of England to keep rates low to aid economic recovery. But don't just take our word for it a survey of ten leading fund managers gave a UK base rate range of 0.5% - 2.5% at the end of 2011 and 1.0% to 4.0% at the end of 2012.

Figures taken from an article published (September 2010) by a leading fund manager.

If investors require a reasonable annual income and capital growth then placing money on deposit is not a viable option. Investors need to use experienced fund managers in the investment and wealth management sectors to generate a sensible return in order to live and plan their future.

In 2009 the majority of recruitment was (for obvious reasons) focused on risk management and compliance professionals. Today we are now seeing a change of focus with companies being to look forward and recruit senior front office professionals with a current focus on fixed income and liability-driven investment.

Investors requirements for a decent annual income and capital growth combined with the large amount of funds seeking a "..respectable home.." should generate confidence and growth in the investment and wealth management market sector.

SUMMARY

A combination of funds seeking investment income and capital growth with a return to the normal cycle of staff moving companies will see a steady growth in the recruitment market. Companies who are recruiting are still being highly selective about their skills requirements but they are now also beginning to experience some upward pressure on salaries. Not quite a return to business as usual but if it continues it will start to generate increased confidence in the market…which we all need!

It is unlikely that we will see recruitment volume return to the heady levels of 2007/2008 in the foreseeable future but companies are now recruiting for newly created positions and also to replace staff who have decided to move on, either as a career move and/or for additional salary.

Nelson Scott offers market analyses and identification of trends combined with our FREE benchmarking of current salary levels provides clients with an invaluable tool to assist their recruitment decisions.



An interesting year to date.


July 2010

From a recruitment perspective January and February 2010 were slow to begin and then the volume of work increased steadily once we entered the second Quarter.

  • Demand has been created through a combination of good results 2009 and also a successful first quarter
  • Clients demand for free salary survey/bench marking as a prelude to posting new roles was central to their success in securing new talent.
  • Rationalisation over the fiscal crisis.
  • Natural staff turnover and renewed confidence resulted in fresh recruitment drives.

There has still been the traditional shortage of good quality Specialist candidates with suitable skills for specific sectors, (See below for details) which have now started moving forward after nearly 18 months of stagnation. This in turn has created some upwards pressure on salaries and total remuneration packages.

Employers have been required to revise salary offers and to react more quickly to market demands.

Our market research and Free Salary surveys/bench marking, has enabled a wide selection of our client base to successfully secure those candidates with a Specialist skill set, that are currently in demand.

Some of the roles for which we have successfully placed candidates and experienced an increase in demand for are listed below:

  • Head of Structured Products
  • Risk Manager & Risk Analysts
  • Business Development Managers - Investment Management
  • Bond, Equity and Structured Sales
  • Global and European Marketing Managers
  • Client Relationship Managers (CRM's)
  • Portfolio Services Executive - Support functions
  • Investment Managers - Managed Funds and Direct Equity
  • Investment and Research Analyst - Asset Managers and Private Clients
  • Compliance Manager - Across the board /asset management
  • Financial Accountant - Asset Management
  • Corporate Finance Executive
  • Graduates

Our market analyses and identification of recruitment trends combined with our FREE benchmarking of current salary levels, has been an invaluable tool to many of our Investment clients.

Nelson Scott prides itself on being able to provide the latest market research data, which has enabled us to secure some of the best talent in what is still a competitive marketplace.

We hope you have found this market research information useful and look forward to speaking to you regarding your future requirements

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