Page 69 - Bridging & Commercial Magazine Issue 5
P. 69

     People         46%                          outside the sector 29% 13% 35%                              67  Sept/Oct 2019  Specialist finance companies are increasingly strengthening their teams with hires from outside of our nuclear space. Of the 93 appointments in the specialist finance market covered by Bridging & Commercial, Development Finance Today and Specialist Banking between 1st May and 31st July 2019, 43 hires, or 46% of the total, were sourced from businesses outside the specialist finance sector. Fourteen of these appointments were from high street banks: four originated from Metro Bank, three from Barclays, three from Lloyds, two from Santander, and one each from RBS and Virgin Money. Six of the hires joined from technology companies in a variety of support, operations and lending roles. As explored in issue three, there is not enough talent in the specialist sector to go around, which has led to a bidding war between companies. James Warburton, director at J2 recruitment, says he is seeing more lenders looking at the bigger picture when it comes to employment backgrounds. “There are some real gems out there \[in the market\] that are able to relatively quickly learn new criteria and a number of our clients that have ‘widened the net’ have enjoyed some real success stories by taking \[this\] approach.” James asserts that bringing in outsiders is essential to fuelling the growing specialist market. Regional hires—which we have defined as anywhere outside of London and the South East—made up more than a third of all hires. Of all these regions, the North saw the most appointments. In terms of roles, BDM and sales positions made up the largest contingent of recruitment over the period, accounting for 29% of the total hires. While there was notable recruitment in sales teams, there were only four appointments dedicated to underwriting roles. Some 13% of all positions were made at the C-suite level. Our recruitment data shows that not one woman was appointed in any of these C-suite roles. This is despite the fact that over 350 organisations in the sector have now signed up to the Women in Finance Charter, with most of these companies committing to having at least 30% women in senior roles by December 2021. Overall, a total of 33 women and 60 men were hired during the period, putting female representation among the recruits at 35%. In January, they made up 33%, showing a slight uptick.  

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