Even bitcoin investor Richard Johnson is surprised by the digital currency's wild ride."I generally consider myself a bitcoin fan and crypto bull but even the action of the last few days has made my eyes water," the analyst at Greenwich Associates...
“I‘m kind of taken aback by what’s happened in the last three months,” said Richard Johnson, an analyst at Greenwich Associates who owns digital currencies and considers himself a bitcoin bull. “I‘m concerned things are moving a bit too quickly.”
“People on the sell-side will need to educate people on the buy-side in how to route trades and how to make the best use of all the venues available," said Richard Johnson.
Greenwich Associates, a research firm, also sees signs that banks are hiring bond traders.
"Trading desk reduction and subsequent personnel upgrades (hiring more people that are tech savvy in lieu of old-school-only traders) is behind us,” Kevin McPartland said.
European institutions paid about $2.9 billion in cash equity commissions for the 12 months through June, according to Greenwich Associates. Of that amount, 46 percent was used to pay for equity research and advisory services.
Money managers’ pay will come under pressure in 2018 as the asset management industry scrambles to manage rising costs and increased competition from cheaper passive funds, according to Greenwich Associates.
Hedge funds and asset management firms are expected to increase bonuses for their employees by an average of 7% this year, according to a new research by Greenwich Associates.
Money managers’ pay will come under pressure in 2018 as the asset-management industry scrambles to manage rising costs and increased competition from cheaper passive funds, according to Greenwich Associates.
Last week I heard of a bank that employs 40,000 compliance officers — which seems incredible. So perhaps it’s not surprising that regtech expenditure for fixed income trading desks alone tops $20bn, according to a Greenwich Associates report.
