Minister and bank tackle finance sector’s tarnished image

David Thorburn, executive director of Clydesdale Bank, admitted that the industry was suffering from a poor perception created by the damaged reputation of the banks.

It now needed to encourage young people to change their view of the sector and to understand the variety of job options that were available, he said.

Thorburn, who chairs the employers’ council of the Scottish Financial Services Skills Gateway, will today team up with learning and skills minister Alasdair Allan to launch re:Think, a website aimed at encouraging young people to consider a career in banking, fund management and other financial sector jobs.

“We are trying to change perceptions that it is a difficult industry to break into and inform young people about the variety of roles. We are also doing our best to tackle the negative perceptions young people may have,” said Thorburn. He accepted that the troubles surrounding the banks and the damage done to the reputation of the sector was part of the problem of how young people regard it when looking for a career.

“I am sure it is a factor. The industry’s reputation has been difficult,” he said.

Joining today’s launch of a website will be Damien Yeates, chief executive of Skills Development Scotland. Thorburn said it was necessary to start by educating school leavers and graduates about the industry as many did not fully appreciate what it had to offer and the range of opportunities available.

“Young people need to realise they do not need to have a financial degree to work in the industry,” he said. “A lot of graduates don’t come near the industry because they do not understand it.”

He said there was a need to reassure young people that the industry was in robust health in spite of its troubled recent history. “Fund management and asset management have come through the recession well and there is no reason for them to be contaminated,” he said.