eFinancialCareers

Tying fund managers down isn't easy. But big money and big buybacks are proving helpful sedatives. "The really good people are always bought back," says Kim Yates, director of headhunter Principal Search. "Employers are fighting hard to keep staff. I've seen hundreds of thousands put on the table." The impetus behind the £100k carrots is very clear when you consider that Bloomberg reports Fidelity International has lost about US$3bn of funds since... Read more

Scotland's fund managers are finding it hard to recruit enough women. Talented women are being put off careers in fund management because asset management firms are still failing to do enough to differentiate themselves from the testosterone-fuelled, long-hours culture synonymous with some areas of the investment banking world. Scottish asset management firm Baillie Gifford has been actively trying to increase the number of women fund managers it hires, even going so far... Read more

Edinburgh fund managers might have to start polishing up on their Japanese as Scotland prepares to woo Japan's billion-pound pensions business. Last week, Scottish Enterprise and Scottish Development International held meetings with Japanese bankers in an attempt to gain access for Scottish-based firms to manage funds from Japan's lucrative, but traditionally low-return, asset management market. Will the move prompt demand for dedicated Asian fund specialists north of the border? Probably not,... Read more

Scots companies look to be going on a hiring spree – and if you've got international experience you'll be laughing. According to the bi-annual Robert Half Scotland Employment Index, one in four Scots employers intends to up staffing levels over the next six months. Nearly half of employers surveyed – 43% – said they wanted candidates with overseas experience because of their knowledge of different cultures and languages and the fresh... Read more

Scotland's fund management industry is booming – and it's not just the big operators who are looking to snap up new talent. Fund manager Resolution Asset Management, which manages £40bn of funds, has just signed a 15-year lease on a new headquarters in Glasgow and has said it plans to bring its headcount in the region to 415 staff, up from 385 currently and 297 at the end of 2006. According to... Read more

Working so hard you don't have time to do anything else? It may be time to try a concierge. In the drive to win and retain top personnel, some UK financial services groups are bringing the services of 'lifestyle management' companies for their top employees. They do everything from the dry-cleaning drop-off and pick-up finding and waiting on repair men and parcels, or organising holidays. Ben Maxmin, an account director at... Read more

Scotland's banks are scrambling to hire property specialists. Irish banks are at the forefront of the move – Anglo Irish Bank recently poached 30-year Royal Bank of Scotland veteran Jim Brydie to head up its Scottish lending team. Brydie was recruited after the former head, Ken Hillen, left to join Bank of Ireland. Last year Bank of Ireland, Anglo Irish and Allied Irish all surpassed £1bn in Scottish commercial lending. Scotland's... Read more

Salaries in Scotland are rising faster than ever, and financial services temps are riding the wave. The new Scottish Labour Market Report, published this week by Bank of Scotland, shows salaries in the country increasing at their fastest level for four years. The report highlights soaring demand for contractors in the financial services sector, where it says pay is rising particularly rapidly. Tim Crawford, group economist at Bank of Scotland, comments: "The... Read more

Should working in Scotland carry a health warning? The Federation of Small Businesses Scotland's annual Index of Success, published earlier this week, suggests it should. The index revealed Scotland came bottom when compared with ten other similar countries on economic performance, employment rates, health and education. Scotland 's poor ranking was due largely to the country's low life expectancy rate, the lowest in the UK. But headhunters charged with attracting top-tier... Read more

Scotland's biggest financial employers have given a lukewarm reception to the growing trend for paying staff to recruit new employees. According to a survey by the Institute of Personnel and Development, around 50% of UK employers now have such "introducer" schemes in place. A quick glance at the headline cost savings helps to explain why the practice is increasingly popular with employers. Recruiting an employee via referral can knock as much... Read more

London's finance workers may be nervous about their jobs disappearing to China and India, but recruiters say Scottish workers have no such fears. In an otherwise bullish report on UK financial and business services, the respected Ernst & Young ITEM Club warned last month that competition from India in particular posed a threat to the UK's biggest industry. But despite an ongoing review of its operations by Prudential – which could... Read more

More and more Edinburgh bankers are splitting their time between Scotland and London. Take a walk around Edinburgh airport any weekday morning and one of the fastest growing trends of modern times will be immediately apparent – the growth in Edinburgh/London commuters is huge. Angus Macpherson, the recently appointed chief executive of Edinburgh-headquartered investment house Noble Group, believes a twin city approach is now vital for the success of his business.... Read more

Should you go for Columbia or Cranfield, LBS or NYU Stern? You may be based in Edinburgh and doing business in Europe, but when it comes to doing an MBA you’re probably still better off across the Atlantic. Although Europe’s MBA schools have progressed in leaps and bounds in the past decade, American banks in Europe (and even European banks in Europe) still favour schools in the US. Merrill Lynch, for example, targets... Read more

Is Scotland's booming financial services growth about to be derailed by a lack of the smack of firm government? Fears are growing in Scotland 's finance sector that the minority government headed by SNP leader Alex Salmond will be unable to provide "clear leadership" which could stall the sector's hitherto rapid expansion. The SNP is opposed to a number of schemes which the financial sector sees as vital to its continuing... Read more

Our recent poll suggests Edinburgh's finance folk are perfectly happy where they are. Asked if they would be willing to relocate, 84.6% of those working in the Scottish capital said they didn't want to move. For the small minority who did fancy heading elsewhere, Dublin and London were equally appealing – each polling 8% of the vote. Unsurprisingly, given Auld Reekie's many attractions, work/life balance is the main factor keeping them... Read more

Scotland's financial services employees are in hot demand, but they're not being paid much more than before. The latest salary survey by recruitment firm Morgan McKinley shows pay rising much faster in London than north of the border. Alex Phillips, manager of Morgan McKinley's Edinburgh office, says: "Scotland has not stood still. The financial services industry continues to grow and salaries also grow, but not as markedly as they might in... Read more

Scottish Financial Enterprise's much touted Fast Forward forum is set to focus on combatting potential skill shortages in the financial services sector. Scotland’s employers are facing a shortage of appropriately skilled workers and the financial services sector is no exception. So the Scottish Financial Enterprise (SFE) forum is to be charged with expanding and improving the country's available pool of talent. The forum, launched a couple of weeks ago at Edinburgh’s... Read more

Could an independent Scotland derail the country’s financial services jobs boom and force large firms to shift their business operations to London? Yes, according to recruiters, who unfortunately prefer to air their views anonymously. One, who declined to be named, says: "There is a fear that some companies will look at the option of moving their businesses, and with them Scottish jobs, south. Most of the financial sector's clients are in... Read more

Scotland's financial services growth is unlikely to be derailed by a skills shortage, despite finance firms being concerned about a dearth of key workers. In its latest snapshot of the Scottish financial services industry, covering the last quarter of 2006, SFE said most firms expect their business prospects to improve this year on the back of a strong finish to last year. But although the report, compiled with Capgemini, also revealed... Read more