According to the latest version of the Robert Walters Salary Survey, an increasing number of investment managers have been entering the job market due to numerous reorganisations, mergers and relocations within private banks.
Simultaneously, a significant increase in the demand for investment managers was also observed in the private sector.
What drives investment managers to move and which selection criteria must they meet in order to join a holding or family office? Charles-Henri Rouvroy, Senior Manager of the Robert Walters banking & financial services division explains these market trends.
The demand for Investment Managers
There is money in Belgium. A lot of money. Besides investing through private banks, more and more prosperous Belgian and foreign family offices are opting to manage part of their capital themselves and recruit Investment Managers. These family offices turn to experienced professionals to help them in setting up the required structures.
“The ideal professional profiles to have in order to become an investment manager within a holding or family office include buy-side analysts and portfolio managers from the asset management/private banking sector with an experience in equity”.
Movement in the job market
Investment managers within private banks are confronted nowadays with reorganisations which can lead to possible job loss or dissatisfaction with the new company culture. “This explains why more and more of these professionals decide to take a career risk and start anew. “They are given the opportunity to put their acquired knowledge and experience to use in the smaller and sometimes prestigious structure of a family business” Charles-Henri Rouvroy comments.
Holdings and family offices are mainly looking for equity professionals with five to 15 years of experience. “The ideal professional profiles to have in order to become an investment manager within a holding or family office include buy-side analysts and portfolio managers from the asset management/private banking sector with an experience in equity”. It’s particularly those professionals who become available on the job market following a merger or reorganisation within their employer. “Entrepreneurial professionals looking for more autonomy and responsibilities within a less formal work environment will fit right in”, Charles-Henri Rouvroy continues.
A thorough selection process
Before hiring an investment manager, family offices issue a thorough selection process to their potential employee. “As it concerns the management of their own capital, employers are careful and want to make sure they have selected the right candidate. This implies longer selection processes than usual. Besides the relevant competencies, extra attention is paid to discretion, reliability and stability. Candidates who meet all the required expectations can count on an attractive salary in return: an investment manager with five to 15 years of experience will earn a fix salary of about €70,000-120,000 on an annual basis.
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