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UK Wealth Managers Score Badly as Places to Work

Contributing Editor

17 March 2006

Only two firms in the UK wealth management market managed to make the annual Sunday Times Best Small Companies to Work For survey: Ruffer, the investment management firm run by Jonathan Ruffer; and Fairbairn Private Bank, the offshore private bank based in the Isle of Man and Jersey. Ruffer came 23rd on the list and scored highly because of a number of factors including the very high respect its chief executive Jonathan Ruffer has among its staff. Other reasons include the sharing of profit among the 57 staff twice a year, and the more than £20,000 ($35,100) spend every year on social events. Fairbairn Private Bank came in at 73rd place, scoring well for staff having a good work and home life balance, job security, low stress levels and general well-being among staff. No wealth managers made it to the Sunday Times list of 100 Best Companies to Work For in the UK, and only two banks were on the list: the Australian Macquarie Bank; and the direct bank of HSBC, First Direct.