Asset management jobs up 2.6% yoy in France in 2015
French market authority AMF has reported a 2.6% year-on-year rise of asset management jobs in the country as at 31 December 2015.
At the end of last year, the French asset management industry tallied 15 931 professionals.
AMF underlined workforce in portfolio management but also in other areas of the industry have increased respectively by 0.6% and 3.3% last year.
Portfolio managers accounted for 27% of the total industry’s workforce, which is a stable share compared to December 2014.
But AMF’s report showed disparities in the sector as 49.7% of asset management workers in France held roles within the 30 largest companies based in the country. Also 75.8% of asset managers based in France had less than 20 individuals in their team as of 31 December 2015.
If the number of jobs in the French asset management industry has risen in 2015, it might decrease at the end of 2016 as large companies such as Societe Generale is set to cut 125 positions, of which 35 in its investment arm Lyxor Asset Management and BNP Paribas has announced a plan last April to trim 675 jobs, including in its investment banking branch, over the coming three years. BNP seeks to save some €1bn annual costs by 2019.
On the other hand, the workforce in the French asset management industry could also stabilise or grow as several measures are set to be taken in order to boost the sector’s attractiveness. The sector also intends to benefit from the post-Brexit vote situation.