Leveraged finance fever

Ireland may be better known for its back-office businesses, but recruiters say the country is also home to plenty of leveraged finance jobs.

Moreover, there just don't seem to be enough candidates to fill them.

Allied Irish Bank recently placed an advert in the Financial Times seeking

leveraged finance staff to work in Dublin, Frankfurt and London. The

lender's domestic rivals in the leveraged funds area include Bank of

Ireland, Investec, Depfa, Heleba, and Irish Life & Permanent.

In November, Guggenheim Partners, the privately held financial institution

linked to the philanthropic family, announced plans to set up a European

leveraged finance operation in Dublin. Adrian Duffy, the Irishman designated

to run the operation, said the firm intends to establish a "sizeable fund"

to participate in European leveraged buyouts and other leveraged finance

transactions.

"If you have this sort of skill set, you will have a multitude of offers,"

says Nicola Kavanagh, banking and finance manager at recruitment firm

Hudson. "These are highly sought-after individuals, as there are a lot more

roles in the market than candidates. It's a developing area in Ireland."

Experienced professionals can command a salary of between €80k and €130k, says Kavanagh, plus a 100% bonus and an attractive benefits package.

Banks will "pay more than whatever the candidate was earning before or

whatever they need to get the skill set", she says. "The salaries are

similar to what they can expect to earn in the UK. But there's a greater

product offering in the UK and candidates who come home typically to fill

these roles usually do so for lifestyle reasons."