Senior trader at Millennium, Charlotte Nutting, has been on a rapid ascension in the last few years. In 2019, Nutting was nominated by her industry peers as one of The TRADE’s Rising Stars of Trading and Execution, and just four years later, she was shortlisted for The TRADE’s coveted Buy-side Trader of the Year Award. Up against other individuals from Invesco, Liontrust Asset Management, Baillie Gifford and State Street Global Advisors (SSGA), Nutting took home the award after an industry-wide vote.
Nutting graduated from Loughborough University with a degree in Geography in 2013. After leaving university, she undertook several sell-side internships at RBC, Nomura and Fisher Investments, returning to RBC in 2014 to work on its cash management team for its foreign exchange traders. In 2016, Nutting moved to Principia Investment Management Limited where she was an execution trader and fund manager assistant. It was then that her buy-side career began to blossom.
Nutting spent just over three and a half years in the role before joining Millennium in September 2019, where she operated as a multi-asset trader, also responsible for index rebalance and market structure. That same year, she was recognised by The TRADE and the industry as a Rising Star of Trading and Execution.
Nutting has been with Millennium for over four years and was promoted to senior trader in February 2022. Nutting is committed to furthering gender diversity within the industry at large, mentoring junior individuals and helping to coordinate industry networking initiatives including the Women of Millennium Network (WOMN) in Europe.
What has your journey to the trading desk been like?
Anything but straightforward! Like most graduates, I had no idea what kind of career I wanted to pursue upon finishing my studies. I completed an internship in finance and fast forward to 10 years later, I am now a trader. After my internship, I explored a few different roles before choosing an operations position, specific to cash management. This role allowed me to work closely with FX traders and opened my eyes to the world of trading. I loved the fast-paced nature and knew it was something I wanted to explore further. In 2016, I joined a small European long/short firm as a fund manager’s assistant and trader. It was this role that enabled me to learn to trade and I spent over three years at the firm. I joined Millennium in 2019 as a trader before being promoted in 2022 to senior trader.
What drew you to trading?
It sounds cliché but I appreciate that every day is different, and that I never know what a company might announce or what headlines will hit, if any. I think there is a huge amount of unpredictability in trading, and that is what keeps me engaged and challenged. Most people associate trading with “numbers,” but what I love most about trading is the human aspect of the role. As a trader, I think it is critical to build strong relationships with portfolio managers, brokers and various internal teams, and this is something I look forward to and enjoy on a daily basis.
You started on the sell-side, what made you move over?
I was working in operations and was keen to make the move to a trading role. So, when a compelling opportunity presented itself to join a small fund where I would get exposure to trading, I jumped at the opening. I wasn’t intentional about being on the buy-side, it just happened to work out that way.
What made you choose a role in multi-asset?
For over three years, I only traded equities, so moving to a role where I would be trading multi-asset was attractive. I like how certain assets have their own nuances and are impacted by different market events. By having the knowledge and skillset of trading multiple assets that I have today, I have the ability to build a broader view of the market compared to when I was trading just one single asset class.
How do you split up your day? What’s your favourite part of it?
Unsurprisingly, every day is geared around the hours of the market, which opens at 8am. My day starts early, before the market opens, I spend time digesting overnight and pre-market news, and then I prepare for the day ahead. Depending on the day, I spend the majority of my time trading, whether it be monitoring orders, speaking with portfolio managers, or exploring opportunities. A portion of my day is always spent working with brokers to continue developing our relationships and the offerings we consume from them. From my experience, Millennium encourages entrepreneurship, so on quieter days I often spend time working on projects that we are focused on as a desk. These projects vary in nature and can be related to process enhancements, technology changes or market structure updates.
How did it feel to win Trader of the Year?
Firstly, congratulations to all the winners and those who were shortlisted and thank you to The TRADE for hosting such an enjoyable evening. I was delighted to have won this award, though all of the nominees would have been deserving winners and are respected in the industry. Knowing that this award is voted for by peers and colleagues means a lot as it shows they recognise the work that is being done and the value our working relationships have.
You do a lot of work for gender diversity in front-office roles, could you tell us more about that and why it’s important to you?
As a woman, I know the challenges women can face in front-office roles, which is why I am passionate about attracting women to such roles and supporting them grow and develop in order to achieve their career aspirations. When I moved into trading, I learned the importance of fostering and contributing to an environment where women can connect, learn and support one another.
Today, I am the co-chair of Millennium’s Women of Millennium Network (WOMN) EMEA, which empowers and connects women at the firm through networking opportunities, professional development and mentoring. I’ve helped put on workshops, social events and fireside chats, and most recently, I spearheaded a work experience insight programme for women who are currently in sixth form at school. This programme focused on trading and investments and consisted of both internal and external speakers. Over the last five years I’ve seen the finance industry as a whole work incredibly hard at challenging and changing their gender diversity and it’s great to see the progress that is being made in this space.