The need for hedge fund and asset manager compliance in the wake of the banking crisis has seen IT needs increase 13 per cent in the last six months.

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The need for hedge fund and asset manager compliance in the wake of the banking crisis has seen IT needs increase 13 per cent in the last six months.

Due to regulation, companies are revamping their IT systems. According to our recent research average pay for front office trading systems is now £700 per day – up from £620.

One fund manager now aims to increase the size of its IT department by 75 per cent from 20 to 35 by the end of the year.

The forthcoming Basel III rules and the Alternative Investment Fund Managers Directive, for example, will both require greater transparency and disclosure from asset and hedge fund managers.

Martin Smickler, Managing Director, LinkPoint Resources, said: “A large number of funds are re-architecting their front office systems. Much of the impetus for this is regulatory pressure. They are upgrading reporting systems to enable better monitoring and tracking of complex transactions.”

“Funds are under intense regulatory scrutiny. There are numerous SEC and FSA investigations under way which, together with a slew of proposed financial market reforms, are heaping pressure on funds to beef up their risk and compliance processes. IT is critical to this.”

He adds: “Buy-backs, where an existing employer makes a counter-offer to stop a candidate leaving, are back to pre-credit crunch levels. For senior level IT roles, most will match the candidate’s offer and throw in an extra 10 to 15 per cent on top.”

LinkPoint resources can help you secure the top IT talent now, Get in touch with us at 08456 809 297 or info@linkpointresources.co.uk.