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Jobs in the north

HBOS aside, there are now several things to be said for the North of England and Scotland. One: compared to the City of London, they’re a lot less dependent on financial services (with the exception of Edinburgh). Two: morose bankers are fewer. And three: there are jobs there, albeit of a different kind to those previously found in Canary Wharf.

For anyone who hasn’t ventured much beyond the confines of the Circle Line, the lands north of the M25 are vast and varied, so this is more of an indication of what might be available out there than a comprehensive guide to job hunting in unfamiliar territories.

Operations: Earlier this week, the Financial Times ran an article predicting that banks will go to places like Manchester and Leeds in an effort to reduce costs. Goldman, for example, is said to be contemplating a “large office” for operational activities in Manchester or Leeds. Deutsche’s apparently doing the same in Birmingham.

Corporate finance: Chris Parker, director of Hamilton Caine, a search firm with offices in London and York, says there are also corporate finance openings to be had at accountants and boutiques beyond the boundaries of the City – particularly if you’re junior. “The corporate finance skill set is more transferable at the junior to mid end where the focus is more on deal execution than origination and a local network is not as important.”

Fund management: Although the predicted 40k redundancies at HBOS are putting a substantial dampener on retail bank recruitment in Scotland, Scottish fund managers are still in the market for heads. Earlier this week, it emerged that Baillie Gifford had hired two fund managers from rivals in Edinburgh. Head of HR Stephen Leach says they still have a few more vacancies in areas like business risk, internal audit, and marketing and client relations. “We might consider people who’ve been working in sales and marketing in investment banks,” he says.

Oil and gas: Rumour has it there are jobs going in Aberdeen. “Pretty much every aspect of the business is looking for people in Aberdeen,” says Lynn Hunter, a spokesperson for PricewaterhouseCoopers in Scotland.

Comments (10)

  1. Thank you kindly. I will sell my house, take my children out of school, and relocate to Leeds immediately.

  2. Aber … what ?

  3. I would rather have conugal relations with a toad than live anywhere north of Oxfordshire.

    Not that desperate yet Reply
  4. Have any of you actually been out of London in the past decade? It’s actually quite nice.

  5. angus may be nice for a trip but not to live and work. at least from my side. besides that its just more rain, clouds, etc. and where is the airport that takes me to spain?

  6. rather go abroad than go anywhere outside City/Canary Wharf……..

  7. To all of you who still have their heads in the clouds:

    GET REAL!!!!!!!!!!!!!

    Do you NOT understand what is happening?????

    With the demise of Bear / Lehman / Merrill / AIG, the market is telling you that the credit derivative business from now on is going to be TINY. London has seen a boom in investment banking over the last 8 years, mainly because of credit derivatives. That party is now over. You are NOT and I repeat NOT going to be able to wait out the market, like 2001 – 2003. This is a paradigm shift. We are going back to basics. Front office banking jobs in London are going to be very scarce for several years. Are u sure a move to Leeds is that bad?

  8. Not to mention the main reason why about 70%-80% of people get into finance… the bonus packages!!! All in for a big change right now!!!

  9. After 3 years of living in the overpriced, crowded hole that is London – pretty much anywhere else sounds fantastic.

  10. As someone who moved from London to Manchester – I admit, it was a big change.

    Public transport isn’t great unless you’re near a tram stop but even then most commutes are a maximum of 30 mins by car/train/bus etc. My perception is crime is a little worse – but I suspect that’s because it’s a smaller place so it’s probably just the same as any big city. But the quality of schools is just incredible (state and private) house prices in Hampstead-esque areas like Prestbury & Hale in Cheshire are around 350,000 for a large 3 bedroomed house with garden. Nightlife, restaurants, shopping are all excellent apart from the theatre choice etc. So I wouldn’t write it off. I nearly did after 6 months here but after I settled in genuinely wouldn’t move back to London if I had the choice. London is great – but so are other cities. It just depends on the opportunities that come your way career wise and lifestyle choice wise.

    Manchester Convert Reply

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