Expert Perspectives With Augusta Aiken

The Conversation:
Shaping The Future Of Financial Talent

Matt (Southside Stories):

Let's start, Augusta, by just hearing a little bit about you and your company and where you're based.

Augusta Aiken:

Yeah, sure. I started AAA Global about six and a half years ago, and we began in London. London is still our headquarters, and since then, we've expanded into five other countries, predominantly in Asia and the Middle East. But London remains our main hub.

We are a recruitment company specialising in the quant and discretionary finance industry, covering all quant and discretionary finance sectors. We work with some of the largest hedge funds in the world, as well as proprietary trading firms and investment banks operating on a global scale.

Matt (Southside Stories):

You've built a successful career and company in recruitment. What was it about recruitment that got you interested in the first place? Why did you decide to build a career in recruitment?

Augusta Aiken:

I honestly think I'm like most people who enter recruitment. I fell into it. I graduated from UCL with a degree in history, and initially, I wanted to go into fashion. My dream was to become a CEO at one of the big fashion companies. I worked at a mid-sized fashion company in London for about three months and quickly realised that I didn't want to climb the ladder in that industry.

At the time, I was really motivated to be financially successful while I was young. I had friends in recruitment, so I went for an interview and just fell into it. But I got very, very lucky. I landed in the quant finance space, which was starting to take off back then, and it's only grown over the last decade.

I stayed in recruitment because it's an industry that's all about people. There's constant interaction, and if you do the right thing every time, you build a network that strengthens year after year. Being in such a technical sector of recruitment has been challenging but also fascinating. We're at the forefront of finance in a space that changes so rapidly that it never gets boring.

Matt (Southside Stories):

I'm just curious about the steps you took. So you decided against fashion and decided recruitment would be a great thing to get into. What happened between that point and the point where you started your own company?

Augusta Aiken:

When I first went into recruitment, I joined a company called Selby Jennings; many people will have heard of them. They're part of Phaidon International. That was the start of my career, and it was a great place to learn. After several years, though, it wasn't where I wanted to be long-term. I also wanted to explore the executive search side of recruitment.

So, I sat out my non-compete and moved into executive search. However, I found that pure executive search was incredibly slow-moving. I realised that I wanted to blend contingency recruitment with executive search, combining the expertise of executive search with the speed of contingency. That's why I started AAA Global just under seven years ago.

Because I'd built a strong network over more than a decade, I had clients who moved with me time and again. There are companies and individuals I've worked with for a long time, and that's allowed us to build a highly scalable business. There's a lot of demand for the expertise we provide.

Matt (Southside Stories):

So, for those of us who are not financial experts, explain a little about quantitative and discretionary finance.

Augusta Aiken:

Sure. Discretionary finance is when trading involves human intervention. For example, if I were to trade, I would engage in discretionary finance.

Traders focus on a particular asset class, like equities (stocks) or FX (currencies), and make decisions based on research and analysis. They might study large amounts of data, read articles, or gather information in various ways, but ultimately, it's a human decision to execute a trade. They're physically clicking a button to buy or sell, deciding when to enter or exit a position based on their judgement.

Quantitative finance is the complete opposite. It's about automating the trading process. A quant researcher or quant portfolio manager analyses millions of data sets to build an algorithm. Once that algorithm is created, it runs automatically, with minimal human intervention. The algorithm is designed to execute trades based on specific parameters, and while it might be tweaked over time, the trading itself is automated.

This is where you get high-frequency trading, where trades occur at speeds measured in nanoseconds that are far faster than any human could react. That's the key difference: discretionary trading relies on human decision-making, while data and automation drive quantitative trading.

Matt (Southside Stories):

Are the types of people you recruit for discretionary and quantitative roles very different?

Augusta Aiken:

They used to be very different. Discretionary finance, as you said, often attracted people who had studied subjects like humanities or economics. However, over time, even though discretionary strategies still rely heavily on human discretion, they are becoming increasingly automated. Discretionary trading is evolving towards more fundamental, data-driven strategies.

You still find some individuals in discretionary trading who are pretty aggressive, especially on the proprietary trading side, but there are also discretionary portfolio managers who are very research-focused. They spend a lot of time analysing data before placing trades and managing portfolios worth billions of dollars. So, it's not always the stereotype you might imagine.

On the quant side, it's a very different profile. These are individuals with master's degrees or PhDs in subjects like computer science, operational research, or statistics. It's an incredibly technical space. They tend to be coders, software developers, or experts in AI, machine learning, and data science. It's a field dominated by technical expertise, and these individuals are often software engineers at their core.

Matt (Southside Stories):

Let's go back to your company, AAA Global. You now have an international footprint. Tell us, where do you operate now?

Augusta Aiken:

London, Amsterdam, Mumbai, Shenzhen, Dubai, and soon to be Singapore. So, six countries in total.

We also do a lot of work in the US, which makes up about 50% of our business, though we don't have a physical presence there yet.

Matt (Southside Stories):

And what led you to expand, and how long did this expansion take? That's an impressive geographical spread.

Augusta Aiken:

Several reasons. First, recruitment is a relationship business. Our clients are global, so we needed people on the ground who could meet with candidates and clients for coffee or a meeting about job opportunities.

It's essential to have a local presence and people who understand the language and culture. For example, China is a vast market, so we need Mandarin speakers. India is another major market, and we need people who speak Hindi.

The other key reason is the global shift in financial markets. London has been a fantastic headquarters for us, especially from a time-zone perspective. But over the last five years, there's been significant diversification.

There's been massive growth in Asia and movement out of London. We decided to follow that trend, expanding into growing countries rather than staying London-centric.

Matt (Southside Stories):

London has long been seen as a global financial powerhouse. Is it starting to lose its edge, and how much is that down to Brexit or other global forces?

Augusta Aiken:

I think much of it was due to Brexit, which was the initial catalyst. But it was also paired with the fact that Asian markets, like China and India, have been performing so well. So, while Brexit had a significant impact, the rise of Asia was also a major factor. Then, COVID compounded the situation.

London suffered during the pandemic, with lockdowns and a shift towards remote work leading many people to move out of the city. It felt like one challenge after another.

London is, of course, still a major financial hub, but the difference now is that other hubs, particularly in Asia, are growing faster.

Matt (Southside Stories):

Of the markets, you're in. Which are you most excited about from a business perspective?

Augusta Aiken:

All of them are exciting, and that's why we're there.

But right now, Mumbai and India, in general, stand out. India has been performing incredibly well in the quantitative finance sector. It's a massive market for us, both in terms of client demand and talent. India has a wealth of exceptional talent, with many people eager to enter our industry.

The second key market is Dubai and the wider GCC region, including Abu Dhabi. The Middle East benefited post-COVID, with many people relocating there, attracted by low taxation and other advantages.

There's been significant movement, and most of our clients have now established offices in the Middle East. They're actively hiring, which presents a huge opportunity for us.

Matt (Southside Stories):

What does your team distribution look like right now? Is London still your biggest office, and how do you see that changing over the next few years?

Augusta Aiken:

London is our biggest team, but India is catching up. It's only about five or six heads behind. London will remain our headquarters for now. It's renowned as a strong service centre with a solid reputation, and we plan to keep it that way.

However, we're focused on building our teams in all the other countries and expanding into the US. Over the next two to four years, I expect we'll have seven countries of similar size. London will continue to grow, but the significant growth will come from our other international offices.

Matt (Southside Stories):

Tell us about your clients. What kinds of firms do you work with, and how have client demands shifted over the last 5–10 years?

Augusta Aiken:

We work across the spectrum of investing. That includes high-frequency trading firms, the fastest trading style, proprietary trading firms operating in both quant and discretionary strategies, hedge funds, asset managers, and sovereign wealth funds. We also partner with everything from tier-one institutions to tier-two startups.

The reason for this breadth is twofold. Firstly, it keeps things interesting. Secondly, it allows us to support a wide range of candidates by offering opportunities across different types of firms. Whether someone wants to join a startup, a world-leading firm, or something in between, we have options.

We're also very selective about our clients, especially at the top end.

In our industry, we can't work with too many of the top firms without starting to run into conflicts of interest. So, we must constantly decide whether to help a firm grow or pull out of them.

This typically means that we commit to a few top firms and don't work with their direct competition. It's a conscious decision to maintain trust and integrity in our partnerships.

Matt (Southside Stories):

Regarding trends, have you noticed shifts in the types of roles clients hire for or changes in the qualities they seek in candidates?

Augusta Aiken:

Definitely, there's been a significant shift towards candidates with coding skills, even in the discretionary space. In quant, the demand for AI and machine learning expertise has skyrocketed. These strategies have been evolving for years, but the sheer demand has surged recently.

Our clients have consistently sought highly technical, exceptionally smart individuals, which is the usual standard. But the bar is getting higher.

In the quant space, where AI is very much in vogue, candidates need more than just a top degree. We're talking about top universities, GPAs, maths Olympiads, and extra credentials that set them apart. It's become far more competitive.

At the same time, with tech firms like Amazon and Google reducing headcounts in recent years, much of that top-tier software development talent is now moving into quant finance. The skills are transferable, and the competition for roles has become fiercer than ever.

Matt (Southside Stories):

What advice would you give to someone considering a career in quant or discretionary finance, whether they're switching careers early in their career or a bright graduate looking for their first break?

Augusta Aiken:

There are a few key areas to focus on. First, beyond academic excellence, firms look for candidates with strong strategic and analytical thinking. Being great at poker, gaming, or chess can be a real advantage. It demonstrates sharpness, risk awareness, and decision-making under pressure.

Competitions like maths Olympiads can also help you stand out, especially in quantitative finance. Internship experience is critical, too. It's not just about gaining skills but about getting that first foot in the door often. A successful internship can lead to a return offer.

Networking early on in your education is also essential. Knowing the right people can help guide you towards the best degree choices or skill sets. For example, quant finance might require a statistics, computer science, or operational research background, while discretionary roles may lean towards economics or finance.

It's also about knowing which coding languages are valued. Python and VBA are standard in discretionary finance, while C++ is crucial for high-frequency quant roles. So, understanding the demands of your target sector and building the right skills early on makes all the difference.

Matt (Southside Stories):

So, it sounds like you need a clear roadmap early on, given how fierce the competition is, to have a realistic shot at landing a great first job with a major firm.

Augusta Aiken:

I think so. The reality is that the top 0.5% of talent from places like MIT, Cambridge, or IIT tend to secure multiple offers from the top firms. It's highly competitive at that level, and those candidates often walk into significant salary packages from day one.

But if you're in the next tier, say the top 1% or 2%, you can still land a great role. It's about more than just academic credentials. The right internship, the right network, the right skills, and even the right cultural fit can make a huge difference.

Candidates with strong, but not top-tier, degrees outshine others by bringing the right attitude and approach. So, while intellectual horsepower is key, it's not the only factor that shapes success.

Matt (Southside Stories):

You mentioned culture. What pointers would you give? It sounds like a competitive environment, and probably not for everyone. How would you describe the cultural fit?

Augusta Aiken:

It's true that these sectors are incredibly fast-paced and competitive, and that extends beyond getting in.

In reality, people work extremely hard in the top 1% of firms. It's not the kind of environment you enter if you're not ready to put in the hours because thousands of others would take your place in a heartbeat.

That said, culture varies across firms. If you're fortunate enough to have multiple offers, it's crucial to consider the environment where you'd thrive. Some firms are highly siloed, where you're running your own trading strategy or working independently as a developer, with a direct link between your output and reward.

Others are much more collaborative, where large teams work towards shared goals. It's an entirely different dynamic, and success in each depends on how you like to work.

So, it's about understanding where you'd perform best. Do you prefer autonomy or thrive in a team where ideas are shared and strategies are built together? That's one of the most important things to consider when choosing the right fit.

Matt (Southside Stories):

You're running a super successful, multi-location business. What are some of the significant challenges you see for 2025?

Augusta Aiken:

Time, there's just never enough of it.

Fortunately, we have amazing clients and strong demand, but the real challenge is hiring the right people fast enough to enter our business.

And not just anyone; we're looking for individuals with real grit who see recruitment as a long-term career, not just a stopgap. We want people who are passionate about this industry and committed to building lasting relationships and contributing to something meaningful.

That's tough to find. We're meticulous in our hiring process because maintaining our reputation and company culture is non-negotiable.

The other big challenge is candidate sourcing. Our clients are after the best talent, but those candidates aren't always looking to move. And everyone is chasing the same top-tier people. Finding them and finding them fast is a constant pressure.

Matt (Southside Stories):

Are you seeing much global movement across the major financial centres? Are people moving between these locations?

Augusta Aiken:

Absolutely, tons of movement, especially from London, Asia, and Europe, into Dubai. That's been a significant shift. Over the past few years, we've seen many people wanting to leave China for Singapore, though that's settled a bit now.

India's been interesting. A few years ago, everyone seemed eager to leave India for places like Singapore or the US. Now, there's a real trend of people wanting to return to India from those same places. It's reflective of how much the market there has evolved.

Overall, in our industry, global movement is constant. The sector is highly competitive, and people are willing to relocate to be the best and work in the most competitive environments.

The only real barrier we encounter is moving talent into Singapore, mainly due to visa restrictions. Interestingly, Singapore isn't always the first choice for some, but the visa issue poses a more significant challenge.

Matt (Southside Stories):

How do you approach managing teams across multiple time zones and handling urgent tasks alongside long-term strategy? How do you prioritise and manage your time effectively?

Augusta Aiken:

I'm incredibly organised. I rely on time blocking, so my calendar is structured weeks in advance. 

I review the upcoming week every Sunday and block out dedicated time for specific tasks. For instance, if I need to strategise about opening in New York, I'll block out that time with zero distractions, no notifications, nothing. Once that time is done, I move on.

I'm also very efficient with meetings. I take inspiration from the Tesla approach, and I'm not there if I'm not adding value or making decisions in a meeting. It's about being ruthless with time.

And I'm hands-on, especially with entry-level team members. I'm deeply involved in developing our business's next generation of recruiters. 

So, it's all about balance, being strategic, and staying close to the core of what makes our company thrive.

Matt (Southside Stories):

To wrap up, I'm asking everyone the same question: who's been an inspirational leader or a significant influence on your business career?

Augusta Aiken:

There are so many people who've shaped my career.

If I had to pick one figure I've not met, it would be Ray Dalio. His philosophy on radical transparency resonates with me. That idea of complete openness where if something isn't right, it's addressed directly has greatly influenced how I run the business.

For instance, our global sales teams operate with one unified commission structure. It doesn't matter if someone is in India or London; it's consistent and transparent.

I'd also mention a client in Chicago who is probably the most successful high-frequency trading firm ever.

Their culture is incredibly collaborative. They believe more brains are better than one, encouraging free information flow and idea sharing.

Even though people have their own projects and silos, the openness across the business is inspiring. That approach to collaboration has definitely shaped how I think about teamwork and growth.