eFinancialCareers

Barclays bank is said to be looking for office space in Scotland that could house up to 850 jobs, in a venture that could see jobs transferred from down south/London. The Sunday Herald says the bank has plans for two new commercial projects in Scotland. The bank already has a strong presence in Glasgow through businesses such as Barclays Stockbrokers and Gerrard Investment Management. Barclays told the paper last week that it... Read more

The Scottish labour market is still suffering widening skills shortages at a time when opportunities are growing. The Bank of Scotland Labour Market Barometer showed that in July employee appointments were increasing, along with vacancy levels, but the lack of qualified candidates for many positions was restricting growth to an 11-month low. “There has been increased demand for financial services staff in Scotland in July, but demand was stronger in other... Read more

If you’re an investment professional with an urge to work in a cosy environment where teamwork takes precedence over individual performance, Scotland’s asset managers could be the places to choose. Amin Rajan, chief executive of consultancy firm Create, says Scotland’s asset managers are both more collegial and more likely to pay on a discretionary basis for qualitative attributes like leadership, mentoring and teamwork than their English counterparts. “In London, fund management... Read more

Aberdeen Asset Management, which is reaching the end of its integration with Deutsche Asset Management, is turning to the US to develop investment teams and beef up its marketing effort. Aberdeen has shifted its US equities team to the Philadelphia office inherited from Deutsche and added three managers to make a team of six. It has replaced the fixed-income high-yield team that stayed with Deutsche by training managers and adding more.... 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

From call-centre to investment director? It is possible. This week Mike Bessell was appointed as investment director of Standard Life Investment’s UK equities team. It’s an impressive move, particularly given he was working in a call centre for Royal Bank of Scotland just four years ago. Bessell had fallen upon hard times after moving back to Scotland following staff cuts in the wake of September the 11th, the Financial Times reports.... Read more

Figures from the Bank of Scotland suggest Scottish IT and financial services hiring are on the increase, but talent is scarcer than snow in July and pay is rising. “In June we saw continued demand for financial services employment for both temporary and permanent roles, and even stronger demand for IT and computing staff," says Bank of Scotland economist Tim Crawford. “We’re noticing evidence of skills shortages in key industries, which... Read more

London-based stockbroker Williams de Broë has closed its Birmingham office and is set to close its Scottish office. Scotland on Sunday reports the Edinburgh office, which deals primarily with mid to small cap institutional investors and research, will close in the next few months. Staff at the Edinburgh office are said to have been offered jobs in London, but it is unclear whether they will take the company up on the offer. Williams... 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

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

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

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

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