A shrinking institutional asset management market and the industry’s embrace of alternatives has required those still in the game to upskill.
“The opportunity for sales professionals in this field is in a decade-long decline, and unlikely to reverse,” said George Wilbanks.
“If the flows from the asset owners are slowing down, there are going to be fewer salespeople,” he said. “You might have had six people 20 years ago; you now have three people – and no one new has joined the firm in 15 years.”