The UK investment management industry plays a major role in the economy, helping millions of individuals and families achieve their life goals by helping grow their investments (mainly through workplace pensions). In fact, 75% of UK households use an asset manager’s services (knowingly or unknowingly). The industry also invests, billions of pounds in companies and the financing of transport networks, hospitals, schools and housing projects.
The industry supports 115,000 jobs in the UK, including over 14,000 in Scotland, and is the largest industry of its kind in Europe where it accounts for 35% of all assets under management. According to The Investment Association, the UK remains the largest centre of asset management outside of the US. UK asset managers manage £3.1tn for overseas clients, which translates to earnings representing 6% of net services exports.
With existing investment firms dominating the market, new firms entering the market will need to find unique and innovative ways of operating if they are to succeed. According to a report from Deloitte, new investment management firms are “targeting millennials”. The key to attracting these individuals is peer-to-peer interaction, low cost, transparency, and thematic investing, including social impact.
UBS, an established management firm is also trying their hand at technology, partnering with Amazon to provide investment advice through their virtual voice activated assistant Alexa. With so many different financial products and a growing need for people with in-depth knowledge of geographic regions, most industry analysts expect strong employment growth in investment management to continue midway into the next decade.
Our London-based consultants are specialists in their markets, recruiting top talent for organisations across the investment management jobs market throughout the UK and Europe.