eFinancialCareers

Exactly what do Scots fund houses look for when they're hiring trainee fund managers? Will Brydon, human resources business partner at Martin Currie, says numeracy is vital, as is the need to assimilate a huge array of information about the way markets are going. But, he adds, what ultimately makes the difference between a good or bad fund manager is their ability to take calculated risks. Richard Fletcher, of fund management headhunter Fletcher... Read more

Scottish financial firms are still looking to increase headcount this year, but seasoned professionals remain thin on the ground. An eFinancialCareers survey in conjunction with Scottish Financial Enterprise polled companies working in asset management, accounting, fund administration and insurance in Scotland. The good news for financial services employees is that of 15 large Scottish financial services firms that responded, 67% intend to bolster headcount this year. The bad news is that... 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

Dundee is about to receive a jobs injection: Alliance Trust is preparing to increase its presence in the city. The investment trust company has plans to create 160 jobs over the next three years. Most will be in Dundee, where it’s had a presence since 1888. The jobs will mostly be for administrators, although we understand there will also be roles across pensions, investment dealing and asset management – including senior... Read more

Does Scotland really need to pay for its financial services jobs? A war of words has broken out in Scotland after the SNP-led administration awarded £6m to US investment bank Morgan Stanley, as long as it creates 600 jobs in Glasgow. The handout from the Regional Selective Assistance scheme, which amounts to £10k per job, was blasted by both opposition politicians and groups who look into how taxpayers' money is spent,... Read more

Scotland’s financial sector continues to boom. But where are all the people to fill the jobs? The most recent Bank of Scotland survey of the Scottish labour market, published in October, reveals finance and accounting employers are facing acute skills shortages – they rank second behind engineering and construction as finding it hardest to fill roles. The gaping hole in the supply of talent might be down to the fact that Scotland... Read more

As Scotland bids for independence from the rest of the UK, there’s the suggestion that its financial services sector could lose out. Global Financial Services Week (GFSW) looks to highlight Scotland’s importance as a financial centre, and the cabinet secretary for finance, John Swinney, took the opportunity to attempt to assuage fears that an independent Scotland could undermine the industry. He said: “We would have to take decisions about the way in... Read more

The indignity of it was too much for one politician to bear. Morgan Stanley, thinking of starting a Glasgow operation last year, was handed £6m by the government to make the move to Scotland. Then it turned out they would have set up here anyway. Fuming, Derek Brownlee MSP, Scottish Conservatives finance spokesman, spluttered: “You can only justify the use of taxpayers’ money to create jobs if they would not... Read more

It’s a scenario all too familiar. A Scottish fund manager is looking to increase its headcount and, as it’s a global marketplace, has put feelers out to other major financial centres for talent. When asked the question why, say, the UK’s premier fund managers might want to move north of the border from the behemoth that is the City of London, the answer is nearly always the same: “Well, the... Read more

A new survey by recruitment firm Joslin Rowe suggests that financial services hiring activity in Ireland is soaring, while growth in Scotland is more modest. Recruitment in Dublin soared between April and May, with permanent hiring activity increasing by a massive 53% month on month. “The financial services sector in Ireland is booming. One of the biggest areas is the funds area, and the fund administration area,” says Helen O’Reilly, head... Read more

The top brass at Edinburgh based fund manager, Artemis, have sold their stake in the business to majority shareholder Fortis. It was a big pay-day for the firm’s founding quartet, and Fortis has promised to safeguard jobs and preserve the boutique culture. Fortis has made no secret of its desire to sell its stake in Artemis, and the move will give it the freedom to sell the entire firm to interested... 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

Scotland’s fund managers and private brokers have been adding charities specialists. Is more hiring on the way? Diane Wilde, formerly of Aberdeen Asset Management, has joined Scottish investment firm Gerrard. Her former employer has launched three new charities funds and announced a new head of its charities division. And Edinburgh-based Cornelian Asset Managers has bolstered its charities arm with June Jessop from Adam & Co. Wilde told The Scotsman that... 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

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

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

Scottish investment administration jobs are set to remain plentiful in 2006. But money managers looking to switch employers in Scotland could find their options limited. Scottish fund companies report limited hiring plans for 2006. Martin Currie Investment Management, which last year hired seven money managers in Edinburgh, says its hiring spree is at an end. Rival boutique SVM Asset Management, which recruited three fund managers and a trainee in November, says... 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