No matter the vagaries of the market, demand for institutional sales positions has stayed steady. During the past year senior level spots were being filled at global investment banks as they ramped up operations. Now, mid-career professionals are the big push - those with a strong client base and an even better track record of revenue generation.
Fixed income and FX institutional sales pros are in the best positions. Look to FX institutional sales posts at Newedge and MF Global, as well as positions in other sectors at JPMorgan Chase and RBC. An MBA and a CFA are de rigueur. Series 6 or 7 and 63 are the must-haves. Energy, healthcare and emerging markets expertise are in demand for institutional sales. With an expected pickup in private equity, institutional sales posts should grow this year, particularly at the larger global asset managers.
Meanwhile, across the pond in the UK, asset managers and investment firms are scouring for seconds and thirds in command, says Mehul Pau, head of fixed income and currencies recruitment at Selby Jennings, a financial services executive search firm.
Institutional sales jobs are usually tried and true, says Pau. There might have been a bit of a lull in the sector in 2008 or so, as the economy tanked. But now Pau's clients are back at the table, looking to make investment decisions. "Investor appetite has definitely increased," he observes. Given the market's volatility and the risk to reward rationale of the moment, fixed income is enjoying a particular boost, Pau says.