I am a managing director leading a quantitative function at an investment bank in London. I manage a large team of quant developers and I have over two decades' experience. Yet it is unclear to me how I find a new role from here.
Members of my team have no difficulty finding new jobs. They are regularly hired by the likes of Citadel Securities and other electronic market makers and have a lot of visibility on the jobs available to them. I wish them well and can appreciate their urge to maximise their opportunities in this economic climate.
When you reach my level, though, the future is a lot more opaque. MD level jobs are often highly strategic and are therefore not advertised publicly. Retained search recruiters are not knocking on my door. Despite decades of experience, high demand in the market, and amazing contacts, I am uncertain of what comes next. I am part of the forgotten tier of middle and senior management in banks who are often shunted into premature retirement.
I'd like to hear from other people who have found themselves in this situation. What have you done? Which headhunters focus on MD level recruitment? Please let me know in the comments section below.
Banks do nothing to formalise MD career paths, or to offer MDs mentors who can help us understand what comes next. Being an MD is a highly political role, which often comes as a result of who you know rather than your abilities - if your sponsors leave, you are very exposed. Banks should do more to help their MD populations understand their career pathways. Personally, I would like each MD to be paired up with five people in permanent rotational mentorships; that would at least be a start.
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