Position vacant: Brexit top job

LONDON • Are you a finance expert with a proven record of negotiating big deals? There may be a challenging job for you in London.

The British government has advertised for an experienced dealmaker to help forge a new relationship between its financial services industry and the European Union (EU).

The next director-general (DG) of financial services at Her Majesty's Treasury will be paid around £125,000 (S$222,000) a year. The post is open to all EU and Commonwealth nationals, according to the advert on the civil service's jobs website on Monday.

The successful applicant will have to tackle one of the thorniest questions resulting from June's Brexit vote - whether Britain can maintain easy access for its vast financial sector across the EU after it leaves the bloc.

"The DG will play a central role in defining and negotiating our new relationship with the EU in the field of financial services," the advert said.

"The role will include a significant element of international travel to conduct negotiations and build relationships with the European Commission, finance ministries and international organisations."

One of the biggest issues is whether its financial services sector will keep its so-called "passporting" rights, a lynchpin of the EU single market that allows firms to provide services to clients across the bloc.

The £125,000 salary is high for a civil servant but a fraction of the sum earned by many bankers who work in London's City financial district.

The first task for any applicant may be to negotiate a better rate.


A version of this article appeared in the print edition of The Straits Times on August 03, 2016, with the headline 'Position vacant: Brexit top job'. Print Edition | Subscribe