Why the North is luring wealth managers 04 October 2019

Why the North is luring wealth managers

Manchester, Leeds and Liverpool's lure for wealth managers has increased sharply in the past two years

 

Manchester, Leeds and Liverpool have long been significant financial centres outside London, but the region’s lure for wealth managers has increased sharply in the past few years.

This northern buoyancy has manifested itself in the number of available roles in the area.

According to specialist financial services recruiter BWD Search & Selection, which includes on its client list wealth majors such as Investec and Adam & Co, the past five years have seen a surge in advisory, investment and private banking positions in the North, and greater staff willingness to relocate.

‘This has become even more obvious in the past couple of years and there has been more urgency to fill positions in the region,’ said Bret Jackson, head of marketing at BWD.

‘There have been occasions where all the combined job openings available in regions were more than those in the City.’

So what underlies the sudden desire among regional, national and international firms to increase their northern exposure? And how are those with deep local roots defending their turf?