The prospect of exchanging a daily commute on the northern line with a leisurely stroll to work has seldom been enough to persuade London’s fund managers to make the move to Edinburgh. But, with Scottish fund managers expanding and job opportunities still thin on the ground down south, more are considering the switch.

A recent round of musical chairs in Scotland’s fund management sector has meant some firms are recruiting again, while others – such as Alliance Trust, Edinburgh Partners, Martin Currie, Standard Life Investments (SLI) and Scottish Widows Investment Partnership (SWIP) – appear to be expanding.

SLI has 50 vacancies across fixed income, property investment and private equity, according to reports, and has successfully extended the search to the City.

Similarly, Martin Currie has found it easier to persuade City talent to make the move to Edinburgh.

Katie Crook, HR business partner at Martin Currie. “Edinburgh is home to successful and growing investment management companies. With fewer positions in London, people will move to Scotland for the right opportunity rather than discounting it straight away, as may have been the case previously. Our remuneration is like for like in Edinburgh and the City, so this is not a determining factor in attracting talent.”

Similarly, Richard Barry, HR manager at Edinburgh-based Baillie Gifford believes a move to Scotland has become more appealing to City fund managers.

“Traditionally, we have struggled to recruit people for senior roles who have little or no Scottish connection,” he says. “However, this has become a little easier recently because of current market conditions, but remains a tough nut to crack. Interestingly, though, around 60% of our investment graduate intake was from outside Scotland.