January 12, 2024 (NO COMMENTS)

Widespread poaching as banks find repurposing existing quants may not provide the right expertise

As regulatory scrutiny on climate risk management intensifies, global banks are battling over an insufficient talent pool, some of whom may not even be attracted by a career in the financial sector. “I secured 15 signed job offers last year, but five of them ended up opting for better offers from other organisations – that’s how competitive this landscape is,” says the head of climate modelling at a US global systemically important bank (G-Sib). The lost staff were relatively senior, including