The front office has become increasingly caged by trading regulations in recent years, which has made it harder for banks to expand their revenue-generating operations. As a result, it is becoming more difficult to shift well-qualified quants into front office quant roles. Not only are there fewer opportunities, but the rosy nuances of sitting alongside the traders have begun to lose their appeal because of the alarming number of recent trading scandals dominating the headlines.
The quantitative management industry, which has pretty well weathered the crisis, made the choice to get together and set up lobbies in order to better protect their interests while improving the quality of service.
Quantitative profiles have always been popular in the financial industries. For the last years, we have seen an increase in the demand of quants with all the upheavals in the regulatory environment. Financial institution are always in demand of talented quants even if fingers were quickly pointed at the quants who set up the computer programs, statistical tools and financial instruments that were foreseen to help investors manage risks. The crisis has reinforced the talent management strategy in this direction and brilliant people with quantitative backgrounds are always coveted by financial institutions. However, we notice a shift in the skills demanded. Today, quantitative talents need to be capable of reading any text in a technical field and reaching a high level of expertise in a short period of time. Despite the situation within the financial markets, firms continue to selectively hire in a bid to upgrade talent. There is a sense that “the quant philosophy is here to stay” and, as a result, this is an excellent market to recruit highly experienced and talented quantitative people.