eFinancialCareers

It used to be the case that a stint in London was the key to career progression within financial services. Not any more, Scottish recruiters say. Alex Philips, managing director of recruitment firm Morgan McKinley’s Edinburgh office says that financial services employees in Scotland don’t necessarily aspire to go to London. “It is not a necessity for people to go to London to develop their careers, as there is ample opportunity... Read more

New research shows a dramatic increase in the number of women landing jobs in financial services in Scotland over the last five years. In 2001, only 33.3% of the people placed in banking jobs by the recruitment firm Blomfield Group were women. Now in 2006, women comprise 49.6% of new hires. Women have increased their ranks in the Scottish financial services industry more successfully than women across the UK as a whole,... Read more

Scotland might not be playing in the World Cup in Germany but its financial services sector could yet score a hat-trick this summer. Its three chances at goal? Up to £30 billion of funds could be returning to Scotland to be managed if talks between Resolution and Santander succeed. The Spanish parent company of Abbey is in talks with Resolution to sell Abbey’s closed life insurance funds. Scottish Mutual, Scottish Provident and Abbey... Read more

Morgan Stanley Fund Services, the fund administration arm of the US bank, is opening a new Dublin operation and creating an additional 300 jobs in Glasgow. In Ireland, Morgan Stanley is currently advertising for team leaders and fund administrators to work in its new Dublin operation, which it says will focus on alternative assets. Morgan Stanley confirmed it's opening a new office in Ireland but declined to comment further. It is not... Read more

It’s official: the Scottish and Irish financial services job markets are hotter than in England – but only for temporary roles. A new study by financial services recruiter the Blomfield Group shows temporary staff in Edinburgh and Dublin can find roles more quickly than their counterparts in London. While Scottish and Irish financial services temps can walk into new roles in an average of just three and two days respectively, their London... Read more

Part qualified accountants looking for a financial services job outside London may want to head for Dublin. However, financial controllers looking for a banking career away from the South East would be better off contemplating a move to Edinburgh. This is the implication of the latest salary survey from recruitment company Robert Walters. Data provided from the company’s offices in Edinburgh and Dublin reveal significant discrepancies between pay for similar jobs... Read more

It may not be a repository of the most exciting and well paid jobs in financial services, but when it comes to sheer appetite for staff, there is little to rival the global custody industry. As things stand, the custody industry already employs tens of thousands of people globally. At the end of last year, Mellon Financial Corporation, one of the world’s larger custodians in terms of assets, employed a total... Read more

One in ten City of London workers would move to Edinburgh, a recent eFinancialCareers.com survey of 1407 financial markets professionals found. But only if they could continue doing what they love doing. Some might say that’s making money. A majority (60.2%) of respondents, however, would take a reduction in pay to keep their current roles but do them north of Hadrian’s Wall. When asked how much of a cut, here is... Read more

A recent article on the website Investment and Pensions Europe (www.ipe.com) doesn’t bode particularly well for the thousands of fund administration staff employed by State Street in locations such as Dublin, Edinburgh and Luxembourg. IPE reported State Street chief executive Ron Logue as saying there was an opportunity to move processing operations to Eastern Europe in order to cut costs. “We see Eastern Europe as two different types of opportunity,” Logue... Read more

Scotland’s financial services employers are eager to add staff, but there are signs that the staff may not be there to add. Two recent studies underscore the health of Scotland’s finance job market. A November 2005 survey by Joslin Rowe, the middle and back office recruiter, found 82% of Scottish finance companies surveyed planned to add staff in 2006, the highest number for the past five years. Meanwhile, a retrospective study of... Read more

Glasgow may be growing fast as a financial services centre, but Edinburgh still offers many of the best paid money management jobs. “Edinburgh is still the natural home for Scotland’s institutional business,” says Richard Fletcher-Jones, a Glaswegian now working as a financial services headhunter in Edinburgh. “Glasgow will have to work very hard to compete.” The most recent survey on employment in Scotland underscores the significance of the financial services industry in... Read more

For London-based asset managers stuck on packed commuter trains on dark winter’s mornings, emigrating to Edinburgh may seem distinctly appealing. Early hours in the Scottish capital are equally black, but thanks to Edinburgh’s spatial compactness, long (and crowded) commutes are rare. Willie Watt, chief executive of Martin Currie, the boutique investment manager, is among those benefiting from the pleasant environment. “One of the great things about living and working in Edinburgh... Read more

For those suffering the drudgery of a lengthy commute, the idea of walking to work would be daily nirvana. If you’re prepared to up sticks and move north of the Border, you’ll very likely achieve just that. Edinburgh, apart from being a beautiful city, is also Scotland’s financial hub. Almost exclusively buy-side, it manages to combine high-powered finance with a more civilised pace of existence. Accessibility and an improved quality of life... Read more