The perfect asset management CV

Asset management is one of the few sectors of financial services that is blessed with vacancies. “There’s a lot going on at the moment,” observes recruitment consultant Manuel Rehwald from Rehwald Associates in Königstein. Low interest rates and the long stock market boom have boosted business. “Never before has so much money been managed in Germany as today,” he comments. Rehwald is also optimistic about the future. Brexit could force smaller fund companies in particular to set up sales offices in the remaining EU in order to obtain distribution licenses here.

Headhunter Rolf Behrens from Banking Consult in Bad Nauheim takes a similar view. “There is a particular demand in the areas of total return, alternative investments such as infrastructure funds, real estate and private equity,” reports the consultant. “The major insurers are also continuing to expand their teams.” In view of the low interest rates, institutional investors are desperately looking for alternatives to bonds.

But what does the perfect CV for portfolio managers and asset management sales actually look like?

The perfect CV…

1. … is not too short and not too long
“The information on the individual stations in the CVs is often too short and some candidates try to fit everything onto just one page, as is common in the USA. This is the most common mistake with asset management CVs,” complains Rehwald. The personnel consultant recommends CVs of two to three pages in length.

On the other hand, the HR department at Union Investment urges brevity: “CVs should be clearly laid out and the positions should be in chronological order (most recent first). As a rule, CVs should also be no longer than two pages.” A confusing presentation, fonts that are too small and too little line spacing make a CV “unattractive”.

2. … contains successes instead of mere job descriptions
“Far too many CVs are limited to job descriptions, which is not enough,” warns Rehwald. “I recommend focusing on the successes.” The descriptions of the individual stations should therefore not be too brief.

3. …. lists performance and track record in detail
Successful portfolio managers are (naturally) measured by the performance of the funds for which they are responsible. A detailed list is therefore mandatory. “We prefer a clear presentation on an additional page. Extracts from databases such as Bloomberg or internal performance measurement tools are also helpful here,” says Union Investment.
Rehwald advises including performance information in the CV or appendices, even for mutual funds, although these are public and can be accessed by anyone. Even in the case of special funds that are set up for individual clients and are therefore confidential, information on performance could be included in the CV without breaching confidentiality. “In the case of sales positions in asset management, it is customary to provide evidence of gross and net inflows on an extra list anyway,” explains Rehwald.

Behrens also emphasizes how important a detailed list of performance and sales achievements is for an asset management CV. For sales people, it depends on the contacts. However, people still like to cheat a little. “As a recruitment consultant, you need to take a closer look at sales CVs in particular.”

4. … has a good education
There’s no question that a good education is a great addition to any CV. “A top university, good grades and good professional training, for example by working as a junior portfolio manager or sales, a few years in a strategy department or other good junior positions, are the hallmarks of a good CV,” emphasizes Behrens.

5. … includes additional qualifications such as the CFA
“A CFA qualification is very important to us, as it sets internationally recognized and comparable standards,” says Union Investment. “One alternative that we accept is the German DVFA (CIIA).”

“In portfolio management, a CFA is often desired and is also a big plus; however, it is not a standard,” says Behrens. In sales, too, employers now attach importance to good training. “The time of the blender is over. Customers today demand that sales employees are much more knowledgeable about the products than they used to be.” Passing the first or second of the three CFA levels can often help with an application. In general, every CFA level passed and similar further training should be included in the CV.

6. … shows no gaps
Gaps in CVs look suspicious to recruiters. Many therefore scan careers for any inconsistencies. Even the well-known trick of only stating the year of employment in order to hide small gaps does not always work. As a precaution, Union Investment recruiters warn: “CVs with gaps in time or where the time periods are only given in years do not help us and are often rejected.”