Multiple jobs at the EBRD and EIB
Financial institutions which provide funding to European countries are busier than ever, and looking to tap into the wealth of available City talent this year for both front office and risk management roles.
The European Bank for Reconstruction and Development (EBRD) - the 'transition bank' which provides project finance to the private sector in emerging economies - is planning to invest record levels this year and is looking to recruit for between 5-10 front office roles, at three different levels - associate, principal and senior banker.
The numbers aren't exactly huge for an organisation with around 1,300 staff, but we understand that the firm is looking to take advantage of the large volumes of investment bankers available, who may be looking to do something slightly more altruistic.
The bank uses a range of debt and equity instruments to provide funding for financial institutions, infrastructure, energy firms and general corporates. Although they're looking for investment bankers, experience of more complex products is unlikely to be valued.
The competition is likely to be pretty stiff. We understand that around 1,000 applications have been received so far for all the positions, whereas a typical role usually attracts between 20-100 candidates.
The roles will be based in the bank's London headquarters as well as Eastern Europe, the Western Balkans, Russia, Ukraine, the Caucasus and Central Asia.
The European Investment Bank (EIB), which this month said it was anticipating raising the amount it lends to EU and pre-accession countries to €70bn this year, is also on a recruitment drive.
A spokesperson tells us they have around 40 vacancies for roles which include (not surprisingly) corporate banking loans officers as well as a number of three-year risk management contracts as a direct result of the increased activity. It's also recruiting for lawyers with experience of structured finance or capital markets.
All the EIB roles are based in Luxembourg, and although it welcomes candidates from the UK, it's yet to see an influx of City applications.
The EBRD pays "market rates" for its front office staff, but bonuses typically come in at between 10-12% of salary and are not guaranteed.
The EIB, meanwhile, has strict salary scales, based on bands that the job roles fall into.
