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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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AUTHORZeno Toulon
  • ZT
    16 August 2023

    What a poor article. It really demonstrates how little grasp efinancialcareers have of the market. Leeds is the second largest legal/financial centre in the UK and is well-recognised in the industry as such - it's the home of DLA Piper for goodness sake. It's a larger financial centre than either Munich or Milan and very much on the map for people working at Goldman Sachs, but evidently not so for bloggers on recruitment sites like this.

  • Ba
    9 August 2023

    Rather dismissive of Leeds in this article. The biggest legal and financial centre in England outside of London and third biggest in the UK overall, just after Edinburgh. Also a vibrant city with great transport links to the rest of the world.

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