The state is hiring bankers, and not just for the new unit set up to handle the taxpayers’ contribution to the banking system. Financial services professionals who are on the street could also consider sending their CVs to the Personal Accounts Delivery Authority (PADA).
The PADA may not have the profile of the new Treasury unit set up to handle taxpayers’ 37bn investment, but it does have jobs. Angela Clark, HR manager there, says they expect to recruit over 100 people – mostly from financial services – between now and 2009.
Contracts range from three months to three years – by which time markets may have come back.
The PADA is charged with implementing ‘personal accounts’, in preparation 2012 when all (eligible) UK workers will be automatically enrolled into workplace pension schemes.
Clark says they’re hiring everyone from heads of research to quant analysts and financial services infrastructure and project management specialists. Pay is ‘benchmarked’ against the private sector.