eFinancialCareers UK – Times are still not good for junior quants and mathematical PhDs who aspire to work in investment banks. With banks pulling back from complexity, there’s less need for their talents.

Mark Davis, a professor of maths at Imperial College, says lots of his students still want to work in finance, but they’re also being forced to contemplate defence, pharmaceutical work, and the consultancy branches of accountancy firms.

One recruiter says quants who can’t get into financial services are also to be found in “systematic gambling” at the likes of Betfair and Ladbrokes, where they analyze data in the same way hedge funds do.

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Tags: accountancy firms, betfair, complexity, efinancialcareers, finance, financial-services, hedge funds, imperial college, investment-banks, ladbrokes, maths, phds, quants, recruiter, talents

eFinancialCareers UK – Man Group has been spending freely on technology over the last year, and is expected to continue to do so going into 2010. To carry out the new projects, it’s been hiring an ever-growing team of contractors, a tactic other hedge funds are also employing.

Operating costs amounted to $275m in the financial year to March 2009, and the hedge fund giant incurred a "significant increase in technology costs", with projects being rolled out to "increase the scalability and robustness of our infrastructure and to support the growth of our business in the future".

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Tags: efinancialcareers, giant, hedge fund, hedge funds, infrastructure, man-group, new projects, robustness, scalability, tactic, technology costs, uk man