European investors add to call for shorter trading day
London 28 November 2019
Asset managers join with UK lobby groups in backlash against long-hours culture
Asset managers in Europe are backing calls from counterparts in the UK to shorten trading hours on the region’s stock exchanges in an effort to boost diversity and improve poor liquidity.
A survey of 73 senior traders at asset managers around Europe, representing about $40tn of assets under management, found almost three-quarters in favour of shorter hours to improve market conditions.
Just under 60 per cent thought improving the balance between work and home life would encourage diversity in this male-dominated business, according to the survey carried out by K&K Global Consulting, which runs a network for traders in fund management to discuss industry issues.
“When looking at the accountability against remuneration, buyside trading is not a job where people are earning elaborate amounts of money when factoring in the pressure to perform during long working days,” said Anita Karppi, co-founder of K&K Consulting...
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