How do you think the CFA designation
is performing?
“It is a very tough employment market at
ESCHAUZIER – Th e CFA designation is present. Firms are hiring less and candidates
performing very well. Everyone wants to
have it now. It’s obviously a designation require more luck. However, important
which is less common among those who
have 20 years experience plus. If you
strategic hiring is still going ahead”
have less experience than that then it is
the desired qualifi cation for an
Amanda Foster, Russell Reynolds
investment professional to have.
pretty tough in the fi rst six months of MORRISSEY – It really depends on what
FOSTER – Th e CFA is a defi nite plus 2009. One is hoping that organisations they want to do. Do they want to run
point. A lot of our clients either require dip their toe back in the market in the money? Do they want to be in
or have a preference for those who hold second half of the year and look to hire distribution: marketing/sales? Th ey need
the designation. Although it’s more more aggressively. to work out that fi rst before they make
benefi cial to have passed all three levels, any other decisions.
it is still an advantage if someone has
started on the road and passed one or What advice would you give to a
two of the three exams. candidate who has just passed Level If you had just passed Level III of the
III of the CFA Program? CFA and were about to be awarded
MORRISSEY – It adds to the ‘blue your charter, where would you want
chipness’ of the candidate you’re talking ESCHAUZIER – Don’t panic if the ideal to work?
to. It does help when interviewing opportunity doesn’t come along today.
candidates to know that they’ve passed In 12 months time there will be lots of ESCHAUZIER – At a fi rst class global asset
the CFA, or if they haven’t passed it, that opportunities. Keep your hand in. Th ink management institution with an
they’re going through the process. carefully about the position you take on excellent track record, no debt and a
board. Don’t just take the fi rst position history of looking after people. For some
that comes along because you’re worried of the asset management subsidiary
How diffi cult is the employment there’ll never be another opportunity companies you’ve got to be sure the
market at present? Are fi rms hiring again. Th is is a very good qualifi cation, parent company is on a strong footing.
strategically? other opportunities will come along,
even if there will be some short-term FOSTER – I would like to work within
ESCHAUZIER – Th e next six months are fi nancial pain which you will have to emerging market equities. Rather than
going to be very diffi cult for a fi rm to endure while you wait for the right specifi c markets, I would like to be in
determine a strategy. Th ere’s a sense of thing. Th e joker would say ‘go travelling general emerging markets as there are
‘let’s see how things pan out’ and ‘don’t be for six months’ but that probably isn’t greater opportunities within this sector.
rushed into taking on any new major the right answer.
strategic change of direction at the Th e advice three or fours years ago was MORRISSEY – I would want to work for
moment’. We just need to let matters go and work for the big boys fi rst off , get an organisation that runs long only
settle down. your experience then later on go and money as well as hedge fund money, so I
work for a smaller fi rst class institution. wouldn’t go down the hedge fund route.
FOSTER – It is a very tough employment Now, if you can secure a position in a fi rst Personally, I would work for a fi rm that I
market at present. Firms are hiring less class boutique fund manager with a great could potentially have equity in at some
and candidates require more luck. track record, just go for it. stage. Skin in the game, where you
However, important strategic hiring is believe in what you’re doing.
Cg
still going ahead. FOSTER – Networks matter and you
should aim to use your network within
MORRISSEY – Presently there are quite a the industry. You need to cover more
few hiring freezes. Companies are doing fi rms in your search and your search
The views expressed in this panel belong
to the individual participants only. They
their compensation rounds in terms of should be much more structured than
may not necessarily refl ect the views of
budgets for 2009. Hiring in fi nancial was required previously. Look for areas
their companies or organisations.
services in London, and globally, will be that are likely to grow going forward.
86
84-86 recruit_roundtable.indd 86 22/11/08 13:35:11
Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76  |  Page 77  |  Page 78  |  Page 79  |  Page 80  |  Page 81  |  Page 82  |  Page 83  |  Page 84  |  Page 85  |  Page 86  |  Page 87  |  Page 88  |  Page 89  |  Page 90  |  Page 91  |  Page 92  |  Page 93  |  Page 94  |  Page 95  |  Page 96  |  Page 97  |  Page 98  |  Page 99  |  Page 100