The Head of Quantitative Analysis at London-listed broker CMC Markets is set to leave the firm.
Emmet O’Donoghue joined the brokerage group almost a decade ago as a Senior Quantitative Analysis.
He was promoted to Head of Quantitative Analysis in 2019. During his time in the role, he was responsible for building out automated pricing and trading strategies at the group.
CMC Markets has spent substantial sums updating its pricing systems over the last decade. The broker has a layered order book that, to our knowledge, only LMAX and Capital.com currently have an equivalent to in the online trading space.
No WFH at CMC Markets
Interestingly, one of the reasons behind O’Donoghue’s departure appears to have been the CMC Markets work policy.
The broker has been vocal in making people come to the office, with no remote work days on offer to employees.
O’Donoghue is relocating to Ireland, meaning that is obviously not possible.
Glassdoor reviews of the firm suggest this has not always proven to be a popular policy and has been a reason for staff attrition.
However, it’s also in line with what many other businesses in the financial services industry are doing.
At the start of this year JP Morgan CEO Jamie Dimon said remote work “doesn’t work in our business”. The investment bank boss ended remote work and mandated a return to the office in March of this year.
