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Boyden Executive Monitor Finds Regulation and Technology Driving Financial Services HiringSweeping changes in regulation and compliance coupled with major technological advances are leading factors in management hiring in the financial services sector, according to the quarterly Executive Monitor released today by Boyden Global Executive Search. 
Jeanne Branthover, Leader of Boyden's Global Financial Services Practice, states in the firm's new Executive Monitor report that CEOs in the sector need to focus most on technology, talent, big data and cybersecurity. (Photo: Business Wire) "Recovering economies, shifting regulatory environments and a massive influx of technology have reinvigorated the war for talent in the financial services sector," said Trina Gordon, President & CEO of Boyden World Corporation. "Talent acquisition has become the differentiator for companies to take market share. This has resulted in a continuous challenge for organizations to attract and retain top performers beyond offering better compensation." The report covers key developments in financial services affecting talent decisions, such as the notion that careers in the sector have lost much of their allure and prestige in the last decade, the ongoing demand for compliance officers, the rise of FinTech and information technology, and increasing competition for talent from the technology industry. "CEOs in financial services are recognizing the impact of a rapidly hanging competitive landscape. Those that will win will capitalize on this transformation," said Jeanne Branthover, Leader of Boyden's Global Financial Services Practice and Managing Partner, Boyden New York. "Today's financial services CEO needs to focus on technology, talent, big data/analytics and cybersecurity, and also have the capacity and desire to innovate. Since the crisis, we are seeing a different profile for successful leaders in the financial services sector. The market now demands a leader who can manage through uncertainty and complexity." The new report from Boyden also identifies the following sector trends influencing executive hiring:
"In Paris, recruitment of senior executives is increasing in asset management," said Florence Soulé de Lafont, Managing Partner, Boyden France. "Experienced proposal managers and senior product specialists are in demand as mid-sized companies develop new products for debt funds and private equity investments, and strengthen their distribution teams. On the corporate banking side, professionals with ECM or DCM (News - Alert) expertise are in demand to cover mid-cap and upper mid-cap companies. In commercial banking, client assignments have increased for Chief Data Officers and technology specialists." "Regulatory pressures within wealth management and private banking in Europe will have significant impact," said George Nice, Partner, Boyden UK. "MiFID II will compel regulated firms to be completely transparent about their charging structures. With the emergence of several online institutional and retail trading platforms, we are already seeing more of a digital execution-led strategic focus from larger traditional wealth managers in order to compete with very credible, lower-cost new entrants." The full Boyden Executive Monitor report is available at www.boyden.com. About Boyden World Corporation Boyden is a global leader in retained executive search and talent advisory services with more than 70 offices in over 40 countries. Founded in 1946, Boyden specializes in senior executive search, interim management and human capital consulting across a broad spectrum of markets and sectors. For further information, please visit www.boyden.com.
Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20141203005274/en/ |
