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The demand for Scandinavian language skills have increased over the past couple of weeks. Several of the boutiques in London are currently looking for Swedish and Norwegian native speakers to help with relationship building in the M&A process.
It is a good opportunity to make the move from the banks into the investment boutiques. The Scandinavian market is still very vibrant and we see a lot of London based teams doing deals up there.
It appeals to many Nordic companies to work with a UK M&A house since it opens up a gateway into another market. Many of the companies already have plans to expand into the rest of Europe and can see it as a natural step to choose a London based corporate finance team for the job.
The strongest Nordic sectors at the moment are TMT, Energy and Industrials. Candidates with previous experience in it, together with Swedish/ Norwegian/ Danish language skills are very well sought after. Candidates can expect strong career progression as well as financial rewards
This week it was announced that BP will be selling off a number of their assets that are currently based in The North Sea, but said they remained committed to the geography. However the new ventures seem to be in Norwegian waters as well as the UK, so ultimately this will cost the country in the short-term? The move is seen as an attempt to recover some of the costs of the Deepwater Horizon spill.
Other geographies are proving to be lucrative at the moment; namely East Africa and the Middle East/CEE. Recently Afren discovered more reverses than they first thought and ultimately will be able to produce 10,000 – 15,000 barrels at day at a The Barda Rash field in Kurdistan in Iraq. With more discoveries of this nature will investors be putting their back into exploration companies and will this spark off some IPOs in the UK market…?What would a Graduate add to my business?
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Amongst the recent redundancies those finding it most tough to find a new role are VP’s.
We are seeing demand for analysts and those who can execute at the analyst or associate level and for directors who can generate revenue or bring clients with them. However we are seeing a real shortage of options for candidates who have over 5 or 6 years experience but yet to originate deals themselves.
The driver behind this seems to be cost as firms look to minimise investment in favour of better managing the way their existing staff work.
As the long awaited consolidation in the midcap broking space continues – Investec buying Evolution, Canaccord buying Collins Stewart, Westhouse buying Arbuthnot Securities, FC buying Ambrian, and with others pulling out of the securities market altogether such as Religare Capital Markets and Altium Capital – where will all the professional staff find new positions?
It is well recognised that consolidation was needed, the level of fund raising activity is way down on the AIM hey day, and so there just is not any need for all these firms to be offering what is effectively the same service!
We are seeing a lot of “upgrading” of teams – companies are taking on some of the very highly regarded people being made redundant, through no fault of their own, and so strengthening their current businesses. Other opportunities are starting to arise with new firms setting up in London from overseas; but I think a lot of those redundant corporate brokers will end up leaving the City altogether.