Today’s FX Talent Requires a New Work Culture: Report

A roundtable forum consisting of young FX professionals was recently chaired by ACI UK, bringing together 10 Millennial and Gen Z front-office individuals for a discussion that ranged from workplace culture and challenges, expectations from their leaders and organisations as well as their hopes and predictions for the FX industry of the future.

ACI UK says the majority of participants were female millennials from diverse ethnic groups currently working in top tier banks, while males, buy side institutions and Gen Z groups were also represented.

The organisation says that while the small group size means their views are not completely representative of the industry as a whole, the “unignorable” top line takeaway from the discussion that every FX institution should pay heed to, is “you can’t put today’s talent into yesterday’s jobs”, and that the FX industry must “continue to evolve if it is to develop and preserve a talent pipeline for years to come”.

Key takeaways from the discussion included the need for support and role-models, greater flexibility and inclusivity across the FX sector, as well as adopting more conscious efforts to address many existing working norms such as presenteeism, which the group found are generally outdated. ACI UK says this also suggests that a more strategic and thoughtful approach to diversity beyond surface level optics is needed, both in terms of recruitment and leadership structures.

“Addressing these issues will be key for organisations that are genuinely seeking to foster a more equitable, supportive, and generationally-aware working environment,” ACI UK states. “Failure to do so is likely to result in a migration of the Millennial and Gen Z pool talent to other sectors – and that means missed opportunities to leverage the innovation and unique perspectives and skillsets that this group can bring to the FX sector.

“The bottom line is that long-term success relies on creating and maintaining a positive work culture and a talent pipeline that extends far into the future,” it continues. “And that starts by realising that you can’t put today’s talent into yesterday’s jobs.”

The full report can be accessed here.