Securities analysts face pressure to reinvent themselves
Yak farmer? Maybe. Restaurateur? Perhaps. Or how about sinking your redundancy cheque into a small gin distillery? For many City analysts, the need to reinvent themselves has never been so pressing.A shake-up in securities analysis is under way, courtesy of January’s Mifid II rules that require greater disclosure of the costs. Banks and brokers held off sacking analysts while negotiating how much fund managers would pay for their output. Now analysts numbers are set to shrink by about a 10th, says headhunter Elbrus Partners. Fund management might appeal to those reluctant to make a big career change. But it has been hit by the rise of passive investing, extra costs and pressure on fees. Options are limited, headhunters warn. Independent research providers, such as Marten & Co …. read more here