Dymon Asia Capital
Danny Yong, Chief Investment Officer and a founding partner of Dymon Asia Capital headquartered in Singapore, has always known that career seeker access to the financial services sector is heavily biased towards graduates from the top universities; and that this pedigree bias excludes a lot of great talent. Danny got his start at JP Morgan in 1997 as a currency and derivatives trader. He believes he had a lucky break, and made the most of it!
He wanted to give others that same opportunity by recruiting financial 'apprentices' for Dymon in trading and Investment Manager roles. So he established a philanthropic venture called Tangent to demonstrate to other employers what could be achieved if they adopted a hiring model that's 'blind' to educational pedigree and work experience, and focused instead on identifying the right person for the right role with the right DNA.
Investment Management, Finance, Banking.
Portfolio Manager, Financial Analyst, Banking Analyst.
Danny and Tangent asked Perception to create the most globally advanced 'blind hiring' application and candidate evaluation process. Applicants were not allowed to provide their resume or any background data as part of the application process because Dymon, as the employer, specifically wanted candidates with no financial services industry experience.
Perception technology uses an evidence-based, performance-validated, system that draws on talent and data science to evaluate candidate's suitability for specific roles. Perception undertook original and proprietary research that uncovered the psychographic and performance attributes within Dymon's incumbent investment management team, creating a Portfolio Manager Performance Fingerprint against which potential apprentices could be evaluated.
Dymon launched a national recruitment campaign, powered by the Perception platform, in Singapore in January 2018. The Perception system deployed a unique 'attributes-first' approach to remove pedigree bias; and in the initial 5 weeks of the campaign, attracted over 1200 applicants.
Eight apprentices, shown in the photo below, were hired by Dymon in July 2018. The personal backgrounds of the 8 apprentices varied widely, from one with no education beyond high school to a PhD in Chemistry. The Dymon apprenticeship scheme rotated the 8 hires through key job roles in the investment firm prior to them being offered permanent positions.