UK Financial Investments, the Treasury Body tasked with managing the government’s 37bn stake in partly and wholly nationalized banks (like RBS), still has a handful of jobs going.
According to the Financial Times, UKFI currently employs somewhat fewer than 12 people. However, various reports from the tail end of 2008 said the Treasury spin-off aspires to employ 15.
A spokesperson for UKFI confirms there are additional opportunities on offer. Positions include ‘head of wholly owned investments’, ‘head of policy and operations’, a financial controller, and roles for a ‘couple of banking analysts.’
The spokesperson adds that the financial controller role requires an accounting qualification and that the banking analysts will need financial services experience.
The financial controller role is being dealt with by Hudson, but the banking analyst roles have yet to be advertised. Carol Leonard at Whitehead Mann may be dealing with the vacancies for the head of policy and operations and head of wholly owned investments, although the spokesperson was unable to confirm this.
UKFI is also using Egon Zehnder to look for five non-executive directors, and will have a say in the appointment of non-execs at the banks it invests in.
Late last year it announced the recruitment of Timothy Sykes, a former CSFB co-head of European banks equity research as senior banks analyst. Former Merrill Lynch banker John Crompton is heading the day to day investment in banks.
The Telegraph says that UKFI has an annual running cost of ‘single millions of pounds,’ suggesting its staff will receive generous six figure salaries.