eFinancialCareers

As Nomura gears up to integrate Lehman Brothers staff across Asia-Pacific, should LB bankers be preparing for a complete change in their working culture, or even jumping ship in fear of the takeover? The answer, it seems, is that sitting things out is probably the best bet – life at Nomura may not be so different to life at Lehman, and the Japanese bank could offer better job security, too.... Read more

In the wake of the global financial crisis, a leading headhunter has described the Australian banking recruitment market as “two-speed”. John Coles, CEO of Executive Group International, says global banks are in limbo as they wait for direction from new owners and/or overseas masters. Meanwhile, Australia’s comparatively strong economic growth and its mining industry are helping to hold up local commercial banks with minimal exposure to sub-prime calamities. “The... Read more

Despite the dramatic upheavals in US investment banks, at Australia’s retail banks it’s steady as she goes. Hiring activity has calmed a little but that goes back several months so isn’t because of the US disintegration, says Edmund Gill at recruiter Hays. “Any hiring slowdown really began in July. Liquidity is tight, so there’s been an awful lot of prudence in the past three to six months. Banks are not... Read more

Thinking of working in Singapore? Employers and candidates there have become more cautious in the wake of the global financial crisis, but the local jobs market remains in comparatively good shape and is still attracting foreign talent. These are some of the key issues emerging from this week’s eFinancialCareers roundtable discussion, which was attended by senior internal recruiters from several of Singapore’s leading financial institutions. The roundtable panelists, who asked not... Read more

Lehman Brothers staff in Australia have been given breathing space to decide their future by Nomura’s expected takeover of their firm in Asia-Pacific. All employees in the region will be offered Nomura jobs if the deal goes through as planned. And in the meantime, the Japanese bank is said to be sticking to Lehman’s current salary levels for the rest of 2008. Patrick Everest, a partner at Jon Michel... Read more

As the sun sets on Lehman Brothers in Australia, the bankrupt firm is locked in talks with recruiters in a bid to secure positions for its soon-to-be-redundant staff. “It wants to put employees in touch with a select group of executive search companies to help them find their next job,” says one headhunter who asked not to be named. Lehman’s 130-odd Aussie employees will need all the help they can... Read more

ABN AMRO Australia is about to disappear into the mothership, Royal Bank of Scotland, with an accompanying and immediate purge of management. Royal Bank of Scotland has announced it will buy the remaining equity in ABN AMRO's local unit and that Stephen Williams, RBS Australia's managing director, will run the combined ABN and RBS business. Angus James, head of ABN Australia and New Zealand, will step down. Will this... Read more

Its CEO and chairman are gone, its share price has hit a new low, and it’s battling for its very survival. But the news is not all bad for the embattled staff of Babcock & Brown – the international banks are keen to take on B&B refugees who jump ship or get laid off. Recruiter John Coles, chief executive of Executive Group International, says Babcock employees are hot commodities.... Read more

Will 40-year-old Cameron Clyne’s appointment as NAB’s new chief executive lead to more youngsters heading up Aussie finance firms? (The Australian) “Age is really irrelevant to the choice of who does what job. It’s about ability and skills for the job,” says David Miles, COO at JP Morgan. “Employers want people with fire in the belly, young and hungry and willing to go the extra mile. They’ve got the energy... Read more

The bad news for banking jobs has continued with the latest release of the Oliver Job Index. The monthly report says total banking and finance job advertisements fell 3.8% in July and 13.92% over the previous 12 months. The year-on-year decline was the worst of any sector. Report author Bob Olivier, director of recruiter Olivier Group says retail banking jobs were hardest hit, while i-banking job ads were down 2.9% for... Read more