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Bloomberg – Bankers Opt for Future in Financial Technology
Many former bankers are now quitting finance and moving into the new field of financial technology. In many cases they are setting up start-ups that offer platforms for services like risk management, data analytics, trading platforms, reports Bloomberg. Eric Anderson, US-based leader of Egon Zehnder’s financial technology practice, confirms this trend. “Seven out of 10 conversations I have with investment bankers now end with them asking me to keep them in mind for jobs in technology,” notes Anderson. “That almost never happened five years ago.” Anderson speculates that bankers are now willing to take huge wage cuts and risks based on the “belief that the [banking] industry is such a slow-moving machine that we can disrupt it”.
Full story: Christopher Langner: Why bankers Are Leaving Finance for No-Salary Tech Jobs on Bloomberg (15 March 2015):