eFinancialCareers

At a time when financial jobs are being axed around the world, Dubai is still proving to be a recruitment oasis for those willing to work in the Middle East. The lure of high-paid, tax-free work is proving attractive for many Australian bankers, who are moving into an array of senior roles in investment banking. Advertised jobs are offering packages upwards of US$100k tax-free, including roles for researchers, finance directors,... Read more

Macquarie is breathing some life into a generally dormant Japanese financial recruitment market. The Aussie bank, which took on 100 new hires in the second half of last year, is continuing its recruitment drive. Andrew Low, Asia head of Macquarie Capital Advisers, comments: “Japan is becoming an increasing focus and we are pleased to be able to attract senior people to match the quality of the opportunities we are... Read more

The overall Asian M&A jobs market has cooled down, but financial sector mergers are generating work for financial institutions group (FIG) bankers with expertise in the sector. While fewer corporate IPOs are taking place, Asian insurance companies and commercial banks are still looking for new acquisitions, says Matthew Phillips, head of PricewaterhouseCoopers’ financial services and M&A practice in China. This is generating M&A work for the investment banks and professional... Read more

There are mega deals in prospect such as BHP Billiton’s bid for Rio Tinto, the Westpac and St George merger plus Xstrata’s play for Indophil, yet it looks like slim pickings for M&A bankers in 2008. Analyst Colin Whitehead from equities research firm Fat Prophets says the liquidity crisis and the higher cost of funds could restrict M&A activity. “But there’s still life out there and within resources there are... Read more

The AU$18.6bn merger plan announced this month between Westpac and St George looks destined to lead to big job cuts. Experts expect thousands of jobs to be axed as the banks integrate their operations and reduce overlaps across different divisions, as well as at the branch level. Toon Van Beeck, senior analyst with industry research group IBISWorld, estimates mergers and takeovers in the banking sector will result in the loss of... Read more

What is it about ABN AMRO employees that’s so irresistible to Babcock & Brown (B&B)? The ASX-listed investment bank has poached ABN’s entire Indian M&A group, having nicked its infrastructure team 18 months ago. ABN staff might well be desirable, but this latest raid was motivated more by location: India. While outsourcing retail support roles to the sub-continent is common, we are now starting to see banks, including B&B... Read more

Aussie banks are on the prowl overseas, picking up choice hires because the Australian market is robust and financial services is short of candidates. Grant Chamberlain, Deutsche Bank’s deputy head of M&A in Australia, says the firm is finding it difficult to source candidates who live locally. Most of its interviewees are Australians living abroad. “We haven't had to spend a lot of time trying to convince foreign nationals to come out... Read more

Now may be a good time to get your CV to Deutsche Bank – especially if you work for Citigroup. A major recruitment drive is expected at Deutsche in Hong Kong as the German giant gears up for its third-quarter 2010 move to Kowloon’s International Commerce Centre. And Citigroup high fliers could be top of its hit list. Alice Liu, a director at search firm Pelham, says Deutsche has... Read more

It’s probably the best-kept secret in Australian banking circles right now. Just how big will Macquarie Bank’s profit be when it reports its annual results on 20th May, and will employee bonuses rise, fall or remain the same as last year? The bonus question has just about everyone stumped, with recruiters having little if anything to go by, except Macquarie’s own recent forecast that its full-year earnings will be up about... Read more

Financial control, largely staffed by qualified accountants, is emerging from the shadows, as the bulge bracket tightens its collective belt in the wake of billion-dollar write-downs. Banks in Singapore have their sights set on ensnaring cost controllers from the Big Four accountancy firms. Think strategic partner, not number cruncher. Steve Parkes from Michael Page International explains why the geeks are suddenly chic: “The image of these people is on the... Read more