Banks hiring for infrastructure securitisation

Investment banks are looking to hire specialists in infrastructure securitisation, say recruiters.

"Quite a few banks are dipping their toes in the water of infrastructure securitisation," says Ted Tracey, a consultant at search firm Kinsey Allen. "Large UK banks like Royal Bank of Scotland and Barclays Capital are already very active in this area and others are looking to follow."

In January UBS hired Steve Cook, formerly of Morgan Stanley, as executive director to head the firm's whole business and infrastructure securitisation effort in Europe. Also this year Deutsche hired Mark Graham from Morgan Stanley to work on whole business securitisations and infrastructure securitisations. Both are understood to be building teams and looking for mid-ranking and junior hires.

In June, Morgan Stanley hired Robert Palache to develop its European securitisation business. Palache was former managing director and head of real estate, corporate securitization and infrastructure finance at Barclays Capital.

Although current hiring is limited to one or two people here and there, recruiters say a shortage of experienced talent is proving problematic. "Good candidates are in pretty short supply and are getting paid well," says one recruiter. "They can be hard to move."

Tracey says leveraged financiers or project finance specialists will often be considered for infrastructure-related securitisation roles: "The skillset required is very similar."