As the way we trade in financial products hurtles towards a pure systematic / DMA backed by an underlying of artificial intelligence and machine learning, I m often asked if sell side brokers and sales traders can transfer their skills and client base into technology platform sales. The Answer? Absolutely yes!
As Bank sales desk numbers are being cut but 50-70%, busy trading floors are being replaced by the hum of servers and technology driven software, I ask myself where can these highly skilled sales people go to extend their careers?
Some can move into oversight roles at the FCA or compliance type roles in Banks, but this is a complete change to the thrill of bringing in flow or new business.
I was recently with a Tech firm owner who mentioned that he had doubled his work force over the last 6 months and is hiring sales people to sell his outsourced technology service to banks / corporates and funds. I mentioned an equity sales person I knew looking for a new role who has been speaking to the buy side for many years, he now has an interview.
The point of this article is to underline that as the financial trading landscape changes there are opportunities for sales staff outside the traditional platforms if the platform and salary levels are in line with expectations.
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