Risk management sweatshops? Number-crunchers move to satellite offices

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In January this year, a group of bright-eyed young maths, computing and physics students arrived at the offices of a large European bank for an open day. They were going to find out about quant jobs within the bank’s risk function – the “best place to start a career in the finance industry”, according to the brochure they’d been given.

The same kind of scene is repeated every year at banks in London, New York, Tokyo and other major financial centres. But this was

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