Peter Saacke, a former fund manager with 25 years of experience in the financial industry, has transitioned to teaching mathematics, a career change prompted by a desire to address the national shortage of maths teachers and improve numeracy and financial literacy skills among students. Saacke retired from his role at Artemis at the end of June 2024 and retrained as a teacher with the support of the charity Now Teach.
He described the initial adjustment to the classroom environment as a significant shift, noting the intense noise and a different kind of stress compared to his fund management days. "The first thing that hit me was the noise. So much so I found myself lying down in a dark room after school for 30 minutes every day," Saacke wrote. He contrasted the challenge of managing a portfolio with the direct engagement of up to 30 teenagers. Despite feeling like a novice, Saacke expressed excitement for the long hours, which reminded him of the early stages of his finance career.
Saacke's motivation for teaching mathematics stems from a recognized national deficit in these areas, as well as in economics, where hiring targets for Business Studies were reportedly missed by 70% last year. He highlighted that schools are actively seeking individuals with relevant professional backgrounds. "Financial education is an area we can excel in and that's particularly close to my heart, something where there is both a great need and which I am sure many with a finance background can make a valuable contribution - bringing money to life and connecting personal and macro finance," he stated.
Now in his first year of a permanent position at a central London boys' school, Saacke teaches A-level students. He finds his finance background beneficial in providing real-life examples for subjects like statistics, explaining concepts such as correlation versus causation and spurious correlations. He has been tasked with developing a financial literacy course for his school. Saacke also noted that transferable skills from the boardroom, including organization, pressure management, and decision-making in dealing with parents and colleagues, have been invaluable in his new profession.
He observed that many students approach him for advice on university studies and career paths, and his experience with hiring interviews has equipped him to prepare students for competitive university admissions. Saacke aims to dismantle students' self-imposed barriers, encouraging them to pursue opportunities regardless of perceived group limitations.
Reflecting on his previous career, Saacke recalled colleagues nearing retirement expressing a desire to