At Laz Partners, this is one of the clearest themes we're tracking in Q1 2026 - and sell-side research & strategy (especially rates strategy, economists/macro research, credit research, FX strategy) is an area where we've done a lot of work as a business.
????'? ???? ??'?? ?????? ?????? ??? ??????:
????? ??? ??????????: Good VPs are keeping their seats - but new hires that might have come in at Director/ED level are now more likely to be VPs managing leaner teams. Typically, there is now a heavier analyst/associate base. Fewer layers, fewer senior seats.
? ?????????? ?? ????? ??????, ???????????? ?? ??: Young graduates now enter the workforce with far stronger coding and data skills, making them comfortable with automation and modern analytical tools from day one. At the same time, generative AI is accelerating routine data processing. Analysts who combine technical fluency with AI literacy can cover a broader universe with greater efficiency. The result is clear - research teams can operate with fewer people, structured around higher-value thinking rather than manual process.
??? ????? ??? ???????? ??-?????: Leading multi-strat platforms want proprietary research. A lot of the best sell-side talent is being poached, and banks often can't replace at the same level. Double squeeze: falling demand + talent drain. MiFID II still compounding this in Europe.
??? ???? ?? ??? ??? ??? ?? ????-???? ????????. Demand from top HFs for the best sell-side strategy and research talent remains very strong. We're also seeing increased demand for economists on the buy-side - but they must be highly technical, strong coders, with a genuine edge (central bank watching, inflation, structural growth models, deep country expertise). The generalist economist profile is a significantly harder sell.
???? ???????? ?? ????? ??????? and is arguably one of the strongest HF bridge roles on the sell-side. Key specialists in inflation, commodities, EM macro, IG & HY Credit, are still being actively poached. And with 45% of allocators planning to increase HF exposure in 2026, the buy-side opportunity set is wider than ever.
??? ???? ??? ?? ???? ?????: Upskill, learn to code, be excellent at modeling, build a track record of trade idea generation, or go deep in a niche.
It has been a busy start to the year at Laz Partners. If you're thinking about your next move, we would love to chat.
