eFinancialCareers

With business failures rising up the agenda, insolvency professionals from Big Four financial services teams are increasingly sought after by investment banks.

“People need to demonstrate good modelling and analysis skills,” says Andrew Bath of recruiters Martin Ward Anderson. “They must be empathetic when dealing with businesses in distress – but unafraid of delivering advice that may be initially unwelcome. Candidates with experience of restructuring for corporate tax purposes may also prove relevant.”

However, not all the new restructuring opportunities are up for grabs on the open market.

Laura Kirk of WH Marks Sattin says banks are redeploying leveraged finance and other talent internally rather than hiring outsiders. When there’s insufficient talent internally, accountants with experience of SIV receivership are an option. “There’s a shortage of people with extensive experience, as there hasn’t been a great need until recently,” Kirk explains.

It might not all be straightforward, though. Guy Emmerson of Badenoch & Clark warns that candidates from practice firms must understand that, while their skills may be directly transferable, differences in working culture would need to be considered.

But Kirk says the spoils may be worth it: “Because there are relatively few established players, you could easily fast-track to senior positions – and future opportunities might even open up in private equity firms, who’d value the portfolio management skills you’d develop.”