Bank of Scotland Treasury

Our client is the largest single integrated treasury function - a wholly owned subsidiary of one of the UK's largest mortgage and savings providers and second largest originators of structured finance deals. Our brief was to source several Senior Derivatives and Structured Finance Counsel, each with structured derivatives or securitisation and capital markets experience, gained either in-house or in private practice.

As the derivatives / structured finance sectors are quite new and lucrative, competition is great and the major players are able to pay highly attractive salaries and lucrative bonuses for top talent. Our client was effectively competing with the major investment banks who had greater buying power and could ultimately offer higher profile work.
Nevertheless, a strong shortlist was delivered comprising contractors, individuals from private practice and in-house specialists. Two candidates were immediately appointed - an associate from a major UK law firm and an in house counsel from a major US Energy trading house. A third individual, five years qualified from a Magic Circle firm was also made an offer which was subsequently accepted.