Structurers aside, one type of finance professional is particularly popular this year: the systematic or algorithmic (algo) trader. Whether it's to work on the central risk book or creating algos for customer trades, banks are busy looking for algo trading talent.
Both Goldman Sachs and J.P. Morgan have recently added vice president (VP) level talent in the area. Goldman Sachs hired Tim Rohkemper from Credit Suisse. J.P. Morgan hired Fabian Mehmke from Deutsche Bank. Both joined in London.
Rohkempter arrived in Goldman's systematic trading strategies team in July after two years in quantitative investment strategies at Credit Suisse. Credit Suisse insiders say Rohkemper had been accelerated to vice president at the Swiss bank after joining only three and a half years previously.
Mehmke arrived at J.P. Morgan this August. He's working as an algorithmic trader at the U.S. bank, after five years trading eurobonds at Deutsche Bank.
Goldman Sachs is building out its electronic and algorithmic trading capabilities after years of under-investment in the area. Returns can be significant. Barclays, which has also been investing in electronic trading (and hiring heavily from Credit Suisse), achieved a 30% year-on-year increase in its equities revenues in the first half of this year.
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