Banking on a career in finance
December 2007 - Article for Isle of Man
Examiner
One of the driving forces behind the Island’s
“Freedom to Flourish” is that it can offer people the opportunity
to reach their full potential. And if your interest is a career in
banking or finance, the Island certainly has a lot to offer.
Andy Halsall, currently a private banker at
Fairbairn Private Bank, has always had a fascination with finance
and, while others harboured dreams of driving trains or fighting
fires, Andy knew from an early age that he wanted to be a bank
manager! Born in Onchan and educated at St Ninian’s High
School, Andy was lucky enough to spend his first work experience
assignment at one of the major retail banks in Douglas and this
confirmed his early ambition to work in a bank.
At that time, Andy was advised to go straight
into the bank after school, so at sixteen he left and took on his
first job. Andy comments, “At that time the banks still had a very
traditional hierarchical structure and you could see your career
progression mapped out ahead of you, but over the next five years
this structure started to disappear as the local banks branched out
into the rapidly developing international arena.”
Andy took advantage of the changes and spent
an exciting couple of years in the bank’s international division,
travelling regularly to the Middle East to visit expatriate
clients. But on the birth of his first child, the toll of
travelling began to tell and he felt he wanted to spend more time
on the Island. He was offered a job in the retail banking sector
and his travelling became somewhat more local for a while, swapping
Jordan and Israel for Ramsey and Peel!
Following a three year secondment in the
Channel Islands, and now with two young daughters, Andy and his
wife returned to the Island in 2003. Despite enjoying their time in
Guernsey, the family were glad to return to their home in the Isle
of Man. Apart from the obvious benefit of willing family
babysitters on the doorstep, the Island’s education system was a
particularly strong attraction. “The investment in schools and the
educational facilities on the Island is impressive and we were keen
for our daughters to be educated here,” said Andy.
In addition, the Island can offer considerable
sporting attractions to children and adults of all ages. As a high
profile local sportsman in his youth, Andy was a key player in the
Manx football league and still volunteers for the annual
inter-company tournament. An expert golfer who plays to an enviable
four handicap, Andy has been able to turn his love and skill for
the game into an asset when it comes to corporate entertaining. He
plays golf regularly on the Island’s beautiful range of courses and
also on many of the prestigious courses in the UK.
Andy was also delighted to return to the
Island’s wide open spaces and varied scenery. Now living out in
Mount Rule, he is surrounded by open fields yet has only a 10
minute drive to the office in Douglas, which allows him to spend
far more time with his family. “It is a great place for
children to grow up – the island is still very safe and allows them
far more freedom than they would probably experience in the
UK.”
A couple of years after returning to the Isle
of Man, Andy moved on to Fairbairn Private Bank to build on his
experience of the banking industry. This award-winning,
international bank provides a complete wealth management service
through its banking and investment services, and Andy was attracted
by the scope of the role. Although benefiting from the
financial backing of its parent company Old Mutual, the bank
operates independently and has the freedom to be very responsive to
market developments. Andy commented, “The scope and diversity of
the private banking role really appealed. I have my own portfolio
of high net worth clients and can work closely with them to develop
individual solutions that will suit them best. Living on the Island
has given me a great opportunity to build an exciting and varied
career in the finance industry without ever having to stay away too
long.”
The Isle of Man is a well-respected and
regulated financial jurisdiction and can offer a wide range of
opportunities within the finance sector. The Government is
particularly supportive of the industry and is also taking a key
role in attracting a new generation of economically active
entrepreneurs to the Island. A package of innovative measures to
stimulate the inflow of investment and business to the Island was
implemented in 2006 and the treasury hopes its incentives, coupled
with the Island’s state of the art communications, business
infrastructure and general high quality of life, will prove a
powerful attraction to new residents.