Debt advisory roles coming at Big Four firms?

With corporations struggling more than ever to find funding in Scotland, PricewaterhouseCoopers is creating a new debt advisory team to cash in on this. If more of the Big Four firms do the same, this could offer more employer prospects to out-of-work corporate bankers north of the border.

PwC's new debt advisory team has been recruited to tackle the Scottish market, where gridlocked credit markets are particularly acute, according to The Herald.

"Even companies that are creditworthy and trading well in resilient industries are being badly affected by the credit crunch, simply because their credit lines are withdrawn or not being extended," said Jason Morris, partner in the team.

Are other firms likely to challenge PwC and create a team north of the border?

"There's certainly a market for it," says Craig Campbell, director of corporate finance advisory at Deloitte in Scotland. "And Scotland has two very significant banks in which there are high quality individuals who may suit this type of work."

However, Deloitte's specialist debt advisory teams are currently based in London and Manchester, and they identify client situations and then work with corporate finance teams within a particular region. Therefore, it has no plans to create a specialist team on the ground in Scotland.

But if you were interested in working in this area, what skills would you need?

"An in-depth knowledge of banking corporates across multiple sectors and of the debt providers themselves and a proven ability to advise clients on steps to take to secure an optimal credit facility," says Campbell.