Equity derivatives tech hiring spree shows no sign of abating

Regular readers of this site will know by now that last year techies with experience of equity derivatives have been both highly sought afterand able to secure pay rises and guaranteed bonuses. Six months on, this recruitment spree shows no sign of abating.

What has changed this year, however, is the both the types of roles being created and banks' flexibility when it comes to taking techies on. Whereas last year much of the recruitment was focused on senior roles and project manager positions, rank-and-file development staff are now being hired.

"There has been a significant level of movement in the market, with most of the investment banks recruiting, with much of the hiring is around developers, specifically C# and Java," says Andrew Keene, MD of IT in banking recruiters Thomson Keene Associates.

The likes of UBS, Morgan Stanley, Credit Suisse and Bank of America Merrill Lynch are all seeking technologists for equity derivatives systems, according to recruiters.

"Because of the sustained peak for equity derivatives technology professionals, banks are becoming more flexible," says Paul Elworthy, director, IT, banking and finance at recruiters Hudson. "Financial product knowledge around other types of derivative products and cash equities is now being entertained."

Banks bolstering equity derivatives tech teams echoes movements within the business. Citi, for instance, has added four to its team in London, while Deutsche Bank's new head of equities for Emea, Dixit Joshi, will look to expand in equity derivatives.