Investment Management Market Update 2018
Ireland is an established investment management centre with in excess of €250 billion assets under management.
Over the last 6 months we have witnessed an exciting uplift in front office activity and we have put together a brief overview.
With new entrants entering the market, Brexit and recent IDA announcements it’s an exciting time to be working in the investment management space.
Fineco AM an Italian firm who are part of the Unicredit Group set up a Dublin office late last year. They have been very active and attracted some exciting local talent at C Level.
Tobam the French Asset Management firm set up their Co Dublin office mid last year and recently hired a quantitative portfolio manager from the Irish Market.
Mediolanum Asset Management hired a Chief Investment Officer and Head of Performance both candidates coming from the London Market.
Fideuram Asset Management hired a high profile Senior Fixed Income Portfolio Manager from the local market.
Comgest Asset Management have hired a Senior Equity Trader from the local market.
Mercer Global Investments has experienced significant growth over the last 12 months and have made exciting additions to their product, client service and risk teams.
Irish Life Investment Managers have promoted internally for index fund manager positions and hired a portfolio construction analyst externally.
Amundi Pioneer look to have selected Dublin as their Global Equity hub which is great for the industry. Fixed income looks to be moving to Paris and with the recent Redundancies announcements there has been very little external recruitment over the last 6 months.
If you are an investment management professional and would be interested in gaining further market information, please call for a confidential discussion on 01 539 0611 or email firstname.lastname@example.org.
Selection of Placements – Q1 2018
We had a busy start to the year and witnessed a large demand for mid-senior level risk & compliance candidates during Q1 as well as a high level of middle office, private equity and client service requirements.
We predict a buoyant Q2 due to an increase in candidate activity on the back of 2017 bonuses being paid in March.
- Head of Risk Services – Risk & Governance Firm
- Senior Funds Consultant – UCITS & AIFMD Management Company
- Vice President Depositary – Alternative Fund Service Provider
- Fund Accounting Supervisor – Global Custodian
- Investment Compliance Consultant – Global Investment Manager
- Client Service Executive – Alternative Investment Manager
- Portfolio Analyst – Tech Focused Alternative Fund Service Provider
- Middle Office Manager – Global Investment Bank
- Private Equity Supervisor – Alternative Fund Service Provider
- Financial Reporting Supervisor – Boutique Fund Service Provider
- Product Analyst – Market Focused FinTech Firm
If you would like to arrange a call to discuss the market contact us at email@example.com.
Private Equity: The Growth of the Industry in Ireland and Expanding Career Opportunities
The most significant growth sector within the Fund Administration sector has been in the Private Equity & Real Estate (PERE) space.
Its estimated that only 30% of global PERE funds are administered by an external 3rd party compared to 90%+ in the hedge and mutual fund space.
Proposals by the government to amend the Investment Limited Partnership Act 1994 will only benefit the sector and increase the attractiveness for Private Equity companies to do business here. The goal is to put Ireland on the map as a global location for private equity funds management and administration.
The big banks control a large portion of the market but due to the complex nature of private equity, real estate and infrastructure funds, boutique service providers dominate the market and they offer more varied and client centric opportunities. It will be a long time before we see the consolidation and takeovers that we have seen in the hedge world.
With a concerning lack of experienced PERE candidates in the local market, this is providing a real challenge for companies who are expanding this service offering and has resulted in a major rethink of what skills are best suited to fill the void in the absence of qualified PERE professionals.
PERE administration is a very manual process, particularly relating to Waterfall Calculations, and as a result it is way behind Hedge in terms of automation. As the industry continues to look for ways to commoditise the process the sector will require a much higher calibre of candidate in terms of ability. Our clients require candidates who have strong accounting skills and who are working toward professional qualifications.
When we look at our counterparts in Australia, Singapore, Luxembourg and the US, the Industry is dominated by those who are professional qualified with the industry being seen as providing excellent career opportunities so as the industry expands here it will provide those opportunities for similarly qualified candidates locally
For 2018 the PERE market will be the fastest growing sector within fund services and in turn will provide the most exciting opportunities for candidates with PERE experience or those who are professionally qualified.
If you are a Private Equity or Qualified Funds professional and would be interested in gaining further market information, please call for a confidential discussion on 01 539 0610 or email firstname.lastname@example.org.
Compliance Market Update 2018
There has been a significant increase in the number of senior level appointments over the last six months, with investment management firms leading the way. Tobam & John Locke have recruited heads of compliance and with CP86 coming into full effect this year ILIM, DMS, FundRock & Crossroads have made strategic hires at director level.
On the back of Brexit, the Central Bank continues to increase headcount within their supervisory and policy teams. RegTech firms are a very attractive career option for regulatory experts who want a new challenge and Fenergo have been very successful recruiting at VP level.
Currently, demand for qualified professionals is greater than the supply. This is resulting in increased salaries for these professional’s with MIFID, AIFM, Financial Crime and Data Protection experience.
Counter offers remain a prominent factor for candidates with 3 to 6 years’ experience as organisations attempt to retain specialist knowledge.
We have seen a significant increase in project focused contracts due to our clients requiring additional headcount to assist with the implementation of MIFID 2 and GDPR.
Fund Service providers are moving away from an end to end investor services model and setting up 1st line regulatory onboarding teams. On the back of this transfer agency candidates with AML, FATCA and CRS experience are in high demand.
We predict 2018 will be a busy and exciting year with compliance professional’s having multiple options and clients who have the best recruitment strategy securing the best talent.
If you are a compliance professional and would be interested in gaining further market information, please call for a confidential discussion on 01 539 0611 or email email@example.com.
Depositary Market Update 2018
It’s an exciting time to be working in Depositary with US Bancorp moving from a depo light to a full depositary product offering and Credit Suisse re-entering the market.
Brexit is having a big impact with banks moving traditional London based roles like network management, due diligence & client service. On the back of the recent IDA Asset Management announcements depositary professional who possess excellent UCITS And AIFM regulatory knowledge could get the opportunity to move into investment compliance and product management.
Due to new entrants and increased activity the Senior Market has been very busy with US Bancorp recruiting a European head of depositary, Credit Suisse a Branch Manager, MUFG a GM for their Dublin Branch and JPM an Executive Director. Other Notable hires were SEI Investments recruiting at Manager level and SMT recruiting at AVP Level. Brown Brothers Harriman, Société Générale and Citco have been active recruiting at the analyst and senior associate level.
If you are a depositary professional and would be interested in gaining further market information, please call for a confidential discussion on 01 539 0611 or email firstname.lastname@example.org.