2013 - How Was It For You?

11 December 2013

As 2013 comes to an end, we thought we would undertake a quick reflection on what sort of year it has been (for us at least) in the world of Wealth Management recruitment.

In a nutshell, the year seems to have passed remarkably quickly! The traditional seasonal peaks and troughs of business activity we normally associate with the UK Executive Search industry don’t seem to have happened – “consistently busy” (even through the summer months) seems to have been the overriding theme for us!

Having undertaken a quick assessment of the assignments successfully completed during the last twelve months, the facts perhaps provide some interesting insights:

  • 14 projects completed which, in headcount terms, equates to the identification and successful recruitment of 31 individuals into new roles.
  • Geographically, this year we have undertaken project work in Scotland (Glasgow and Edinburgh), the North West (Manchester and Liverpool), in the Midlands (Birmingham and Leicester), in Bristol, and of course, in London.
  • By sector, projects have been roughly split - 50% in Private Client Investment Management, 25% Private Banking and 25% Financial Planning and / or Professional Services.
  • By function, projects have broadly embraced Portfolio Management, Business Development, Client Relationship Management, Compliance and Regulatory reporting and, Marketing to name but a few.
  • Remuneration-wise, assignments have commanded base salaries ranging from £25,000 per annum at one end of the spectrum, to £180,000 at the other.
  • Total compensation packages for appointed candidates (to include guaranteed bonus or other incentive schemes), have ranged from £29,000 per annum to in excess of £400,000.
  • The average total remuneration package across all 31 positions was £103,000 with a commensurate median base salary level for these same roles of £76,000.

The overriding theme seems to have been one of demand for best-of-breed candidates continuing to far exceed availability, and we confidently expect this trend to continue well into 2014.

We believe that we remain well-positioned to support both our Clients (and potential Clients too!) and of course, our Candidate community, whose business activities are the springboard to everything we do.

From all of us at Executive Dynamics, we wish you all a very Merry Christmas and a peaceful and very successful New Year!