P8 selby jennings buyside sales and marketing europe

APRIL 2014 M A R K E T U P DAT E BUYSIDE SALES AND MARKETING - EUROPE

SIGNIFIC ANT RECRUITMENT DEVELOPMENTS Within the Buyside Sales and Marketing area, it has been noticed that there has been a considerable lack of Analyst and Associate level talent capable of joining the larger and more established teams. Companies are ever more willing to hold out for more specific requirements.

They will wait longer for the right person, and will only interview the best people in the market. This is especially apparent in Switzerland, where a role will typically take 3-4 months to fill, in comparison to London, where is it likely that the process would only take one month.

HIGH GROWTH HIRING AREAS ACROSS MARKETS / PRODUCTS TMT and Consumer sectors having the most deal flow and consistent hiring over Q1. However, elsewhere things have more or less plateaued this year. Last year saw a huge boom in real estate, infrastructure and alternative fund recruit.

However, the more traditional funds have also gained market exposure, and given market confidence increasing, both traditional and alternative funds are keen to hire again. Larger firms are noticeably taking a little longer than mid-size companies; however, this can be put down to the bureaucracy that is generally required. This includes approval channels to get a role pushed through.

GEOGRAPHIC AL HIRING TRENDS London and Germany have continued to be the main European hubs, with London probably the most active in terms of hiring during the past few months.

Germany was probably the biggest area for hiring in asset management sales.

However, Switzerland has been increasing. Given the stability of the Swiss economy a constant stream of hiring is fairly concrete.

HIGH DEMAND SKILL SETS / EXPERIENCE Language skills are one of the main requirements at present. For a sales/client services/marketing role in in Switzerland, if a candidate cannot speak both French and German, as well as English it will be difficult to find something that is in a higher salary bracket, or at all.

ROLES IN HIGH DEMAND In Q1, Client Services positions were in high demand. There had been a lot of redundancies over the past few years and now market confidence is growing; asset managers are keen to strengthen the backbones of their sales teams. Senior marketing roles have been increasing in popularity.

Given the technological advances in social media, companies have been looking to employ savvy marketing people who not only understand the traditional marketing efforts, but also how to develop and target a new customer base through digital/online means. Of course, a traditional fund sales person is always in demand - companies have stabled assets more recently, but it is now time to once again build these up. Consequently, candidates with a good institutional client base are certainly in demand. In the UK specifically, Analyst 2 - Associate 1 have also been frequently requested profiles of Q1 2014.

SENIORITY LEVELS IN HIGH DEMAND Mid-Level Client Services, Head of Marketing and Junior Sales Support were all in high demand in Q1 – as well as levels Analyst 2 - Associate 1 positions. All of this ties into companies wishing to strengthen their sales back office first; before once again increasing assets.

HIRING FOREC AST FOR THE MARKET IN Q2 2014 The market is likely to continue as it was in Q1. In Switzerland, the summer is always a pretty quiet time; however, this could see a slight rush in companies that are keen to secure new talent ready to start in Q3. Germany will typically move a lot faster than Switzerland due to their higher candidate pool; however, a solid client services role would be ideal for them ready to support the sales team for Q3 and Q4. The UK is also likely to see a continuation of strong interest in any Analyst 2 - Associate 1 candidates.

JOB SEEKER ADVICE When looking for a new role within the Buyside Sales and Marketing area, candidates should be realistic and open to opportunities. They should not let their career stagnate by staying in the same role for longer than is wise.

Candidates should seek a new role that acts as a career stepping stone; find a stronger platform, develop their career and look at the longer-term picture.

Today’s market is not the same as it was in 2008; roles are not as easy to come by.

It is also important that a candidate’s CV relevant and references are up to date. Flexibility is also important; companies will look to interview candidates at considerably short notice. If a candidate cannot be flexible to attend an interview with around 24 hours’ notice, then it is unlikely that they will get another chance at being employed in that position. It is vital to go beyond what it says on the company website when preparing for an interview. Companies will look for candidates to position their business in the market and describe how it might compare to competitors.

HIRING TRENDS It is important that clients who are interested in growing a team within the Buyside Sales and Marketing area should be realistic about the available talent on the market. The market is highly competitive at the moment because there is a huge shortage of technically strong candidates who have worked in a deal rich environment.

The vast majority of teams are running lean and candidates with great potential can be found in unlikely environments. Additionally, because the competition is so high, clients should be flexible and accommodating for candidates; they should ask themselves if they can change the process to match a candidate’s diary, can they meet them informally to make them feel at ease and understand why their business is the right one for them. It is occasionally the case that a candidate may have a 3-6 month notice, and if this is not addressed early, they might not be able to start until the following January. As a result, it is wise to recruit as early as possible; start dates do not have to be in the next few weeks, but the best candidates will not wait around forever.

NOTEWORTHY MARKET TRENDS Despite what a lot of candidates think, salaries have remained relatively stable and many need to be realistic about moving for only relative increases. Whilst there is a relative shortage of candidates at particular levels, this doesn’t mean that they can jump multiple steps up the level. Candidates should know that it is realistic to be moving to the same, or a slightly increased level at a better platform with better deal flow will still represent a significant career move.

On the client side, companies need to be aware of how competitive the market is and ensure that they impress candidates, not only during the interview stages but also when they come to present potential offers. Quite often candidates will have multiple offers, so it is important to offer competitive and realistic financial packages from the initial stage of negotiations.

ABOUT SELBY JENNINGS Operating as part of Phaidon International, Selby Jennings is a multi-award winning global recruitment organisation focused on servicing the financial industry.

By breaking down financial markets into individual niches and micro-specialisms, Selby Jennings powers a knowledge-led model, delivering global solutions into local markets.

Every consultant is an expert in their field. Structuring our teams to mirror the demands of our clients and candidates, we identify, qualify and present the highest calibre candidates, as well as identifying the best market opportunities for leading finance professionals. From our offices in London, Singapore, New York and Zurich we recruit beyond international boundaries, pro-actively sourcing the best talent in the industry across both contract and permanent hires.

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