Goldman Sachs director leaves for state-owned bank in Leeds
A new job opportunity can often take you to new countries and cities. New York, Hong Kong, Singapore… Maybe Milan, or Munich. But sometimes it takes you to Leeds. Wait, what?
Chris Pegg left Goldman Sachs last week, after five years with the bank. Pegg was a high-yield credit analyst for Goldman, working in portfolio management, and left as an executive director. He’s heading to the UK Infrastructure Bank (UKIB) to work in portfolio management.
The UKIB is a government-owned development bank that “exists to help tackle climate change and support regional and local economic growth.” UKIB is based in Leeds and Pegg moved there for the opportunity.
What are the benefits of working at an infrastructure bank? Even if it’s state-owned, and even if it is in Leeds, of all places, it has to pay competitively to bring in people from Goldman Sachs, or any other investment bank. But what does competitively mean in infrastructure, these days? Think $100m, says Dan McCarthy, CEO of New York-based infrastructure-focused executive search firm One Search. The UKIB will not pay anything near that amount, but it could be a step along the road.
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