In this Q&A, we speak with Fraser McPhail, Senior Director of Debt Finance, who has been instrumental in growing OakNorth’s presence in Scotland since joining in 2023. Alongside Matteas Law, who also joined in 2023, Fraser has been at the forefront of building our Glasgow office and establishing strong connections across the local market. Now joined by Michael McGregor, who started in November 2024, the team is well-positioned to continue driving growth and supporting ambitious businesses in Scotland. Fraser shares his reflections on the journey so far, what makes OakNorth a unique place to work, and the culture that sets us apart.
Why did you choose to come and work here?
Fraser: I wasn’t actively looking to move at the time, but after meeting a handful of the senior leadership team, I got a real sense of the bank’s ambition for Scotland and how the organisation operates. OakNorth’s dynamic and entrepreneurial approach really appealed to me. The more I learned, the more I was sold on the opportunity to build something meaningful here.
What was your opinion of OakNorth before joining?
Fraser: I knew of OakNorth’s reputation as an active, ambitious lender. It’s not a place where you sit back and wait for deals to come to you—you need to be proactive and results-driven. That level of energy and hustle was something I respected even before I joined.
In your opinion, what sets us apart?
Fraser: Unlike other banks where you can end up siloed in one sector or role, OakNorth gives you the autonomy to work across markets and sectors. You gain direct access to decision-makers and senior leadership, providing a level of collaboration that is truly unique. The flat structure means there’s less hierarchy, and the learning opportunities—whether through working closely with London colleagues or from the breadth of businesses we support—are far superior to what I’ve seen elsewhere.
What’s your favourite thing about working here?
Fraser: The autonomy. I’ve been trusted to lead the business in Scotland and build it out in a way that aligns with the bank’s broader goals. That level of trust and independence is incredibly empowering.
What’s been your biggest highlight since joining?
Fraser: Closing our first deal with Ambassador Group for the redevelopment of Bangour Village was a standout moment. It was a complex transaction, but it helped establish OakNorth’s credibility in Scotland and put us on the map in the local market.
How would you describe our culture?
Fraser: It’s dynamic, energetic, and open. The flat hierarchy means there’s a positive, collaborative environment, but you need to be hardworking and have the right mindset to thrive here. The support I’ve received from across the business has been phenomenal.
What’s the best piece of advice you’ve received throughout your career?
Fraser: Be open and honest with people. The more you put yourself out there, the more opportunities will come your way.
If you’re looking for a role where you can make an impact, take ownership, and work alongside a dynamic, supportive team, we’d love to hear from you.
Check out our current career opportunities and take the next step in your professional journey with us today!
