What We're Seeing in the Credit Hiring Market: January 2026
To give a snapshot of the current market, reflected through recent discussions across the buy-side and sell-side (with candidates and clients alike), the following points appear to be recurring themes and are likely to set the tone for the first phase of hiring activity this year.
Private markets: There is continued growth across Europe, but with far more discipline. Hiring is increasingly skill-set driven, with greater emphasis on breadth of experience, including multi-sector coverage, exposure to both public and private markets, and a growing value placed on insurance and regulatory knowledge. Competition is tighter, and roles are being defined more precisely despite continued volume.
Insurance-backed and alternative managers: There is clear momentum in this area. A combination of sufficient balance sheet capital to deploy, long-dated liabilities, and a continued push for yield has resulted in steady and sustained hiring across credit and structuring teams.
Sell-side: Hiring is largely replacement-led, with specific demand for mid-level talent due to a noticeable talent gap within some teams. This has resulted in disproportionate value being placed on experienced junior and desk analysts.
Evolution of the research function: Some larger asset managers are evolving toward desk- or pod-style research models that more closely emulate the breadth and flexibility associated with a typical trading desk analyst setup. This reflects a balance between broader, more agile coverage and deeper sector specialisation. Established sector specialists, such as those covering financials and real estate, remain largely unchanged, while insurers and larger managers continue to operate within more structured research frameworks. Hiring growth is limited, with most movement linked to changes in research structure rather than performance-related exits.
If you're thinking about making a move or looking to grow your team in 2026, it would be great to connect and discuss further. Feel free to get in touch.
