Liability-driven hiring still going full pelt

There's no let up in demand for liability-driven investment specialists, says one recruiter.

"Most asset managers are building liability-driven investment teams to come up with innovative project ideas," says Petra Rickmeyer, director of the global financial services team at search firm Hoggett Bowers. "Investment banks are also building pension advisory businesses with the same aim."

The result is an unseemly rush for anyone combining strong quantitative and actuarial skills with the urge to apply them in an investment banking or asset management context. Many who fit the bill are currently employed by investment consulting firms, where life is a little quieter.

"Over time, these people can double their earnings potential by moving to an asset manager," says Rickmeyer. "But they will need to be good: the effectiveness of your analysis and fund management skills can be very transparently measured."

Among the current vacancies in the area, UBS and Citigroup are hiring asset liability analysts in London. Calyon is looking for a manager of the asset liability section at its London office. And SEI Investments has a vacancy for an asset liability financial modeller.

Rickmeyer says liability-driven investment (LDI) specialists also need familiarity with derivative products. Derivatives structurers are therefore also high on funds' LDI shopping lists, she says, and this is pushing pay higher.