Introduction

A leading Investment Bank was experiencing frequent turnover of its desk analysts. Each desk analyst would cover a specific sector or sub-sector of the market, leaving a significant coverage gap on departure and requiring a comprehensive handover of any discretionary work to other team members until a replacement was found. During this transition, the Team Head found analysts often unwilling to step in when needed, given the difficulty of taking over someone else’s modeling work. This resulted in remaining team members being overstretched for months and, in worse cases, severe coverage disruption when handovers were not possible.

Our solution

Spearheaded by the Head of High Yield Credit Trading, the team adopted Cognitive Credit as the tool of choice for all data and modeling. By using the storage allowed in-app via the Drive feature, all built models, documents, memos and notes were saved digitally in-app, allowing any analyst to pick them up immediately in the event of any team departures. 

The outcome

By systematizing all data, modeling and research efforts onto one tool, the team were more willing and able to mitigate coverage gaps with little to no friction. This meant no opportunities were lost during the recruitment process, and a more streamlined workflow allowed new analysts to be onboarded much faster - in some cases, under a month.