The ICB report is likely to spur more recruitment of project and change managers

North of the border, project and change managers have been in demand for the last 18 months as Scotland's large banks roll out huge restructuring programmes.

If there was a danger of this hiring spree cooling off, the administrative burden of the Independent Commission on Banking's (ICB) report published yesterday could spur a fresh round of recruitment.

The idea of 'ring fencing' retail banking away from investment banking functions may sound like a simple idea, but practically it could be a complex process.

Andrew Gray, UK banking leader at PWC, thinks some banks may want to separate out integrated support services for retail and investment banking. He suspects these will be, "costly to separate." This is likely to involve project and change managers who are already in demand within Scotland's banking sector.

Similarly, Dawn Nicholson, HR consulting partner said that banks may need to "increase headcount for certain retail functions that now need to be ring fenced".

Central to the ICB's proposals are Lloyds Banking Group and Royal Bank of Scotland, which are still headquartered in north of the border. Much of the planning behind the restructuring work so far has taken place in Scotland.

RBS has been recruiting business analysts, project managers and change managers for its 'retail transformation programme', Lloyds has been competing for the same talent as it looks to restructure as has Tesco Bank as it looked to kick-start its operation.

The majority of these roles have been on a contract basis, with rates coming in at 350-450 a day. Permanent positions pay anywhere between 45-65k.