There is still plenty of structured products hiring in Russia
There are two things in Russia to say about the complex derivative instruments termed 'structured products.' The first is that expertise here is in high demand, and the second is that the more complex the products, the greater the demand
"Structured products can now really be called a recruitment 'hot-spot.' There is a lack of specialists in this field in the Russian market. Employers are looking for those who have hands-on experience in working with derivatives and futures - not only in Russia but abroad as well" says Tatyana Baklagova, a consultant with headhunters Antal Russia.
Preferred candidates tend to be well-educated, sometimes with several degrees, are fluent in English, usually have a CFA and MBA qualification, and "a clear understanding of trends in Russian and international stock exchanges, she says. "The highest demand for specialists in structured products is private banking, asset management and investment banking" says Ms Baklagova.
At international search firm Pedersen & Partners, Gregory Camou, head of the Moscow office says: "Structured products are clearly a hot spot but still an emerging one as the share of derivatives in the overall financial sector is small in Russia, particularly compared to the western capital markets." Mr Camou points out that by comparison to a share of around 20%-25% of the financial sector in Russia, derivatives in the western world are sometimes around 75% of certain capital market activities.
Nick Rees, head of recruitment firm Star Search, told the Moscow Times last week that structured products are among the main areas of recruitment in Russia today. Renaissance Capital just hired Soroosh Shambayati as global head of capital markets from Nomura Securities, managing FICC sales and trading across Russia, CIS, CEE, Asia and Africa. A subsidiary, Renaissance Finance Bank, established last year, is a new business in foreign exchange, including spot trading, derivatives and other structured products.
