With digital disruption abundant in finance, large firms are seeking out an increasingly scarce and expensive resource with gusto.
What does it take to enter the City in 2018? Banks, concerned by digital disruption, are overwhelming looking to recruit technology talent.
Research shows that more than half of jobs advertised this month at leading investment banks in the UK such as UBS and Goldman Sachs are for technology focused roles.
The numbers, compiled by efinancial careers, a job listings website, suggest that when it comes to modern day investment banking PPE is out and coding is in.
Looking at nine large international banks - Goldman Sachs, JPMorgan, Morgan Stanley, Bank of America, Citi, Deutsche Bank, UBS and BNP Paribas - the trend is clearly broader too. They have in aggregate 1,800 jobs open, nearly 40 per cent of which are vacancies are for technologists, quants or strats.
At Goldman Sachs and UBS this stands at 53 and 54 per cent respectively, despite both firms having big technology and operations hubs in Poland. Goldman Sachs already employs 670 people in Warsaw and plans to add another 300 in the coming years, according to efinancial careers.
Goldman Sachs is advertising far more engineering jobs in London than in Warsaw, where it has fewer than 40 engineering vacancies.
Top tech talent is a pertinent issue in the UK where, despite London boasting one of the largest global pools of developers in the world, competiton is rife to attract talent.
Now in its sixth year, the AltFi London Summit returns on 18th March 2019 to 155 Bishopsgate. Last year proved to be a crucial turning point for the key players building the future of finance. Leading platforms launched oversubscribed IPOs, digital banks proliferated and mainstream financial institutions started their own disruptive propositions. With 2019 certain to be another landmark year, more questions will be asked by regulators with investor interest in disruption also poised for more rapid growth.