eFinancialCareers

The Australian job market is crying out for financial planners and paraplanners, with demand up nearly 100% according to some reports. Recruitment specialist eJobs noted 460 advertised roles for Sydney, Regional NSW and ACT in May, an 80% rise on last year, MoneyManagement.com reports. According to eJobs’ report, Australia is also short on candidates. This is bad news for employers, but good news for candidates, who can command higher salaries for their... Read more

National Australia Bank is building up its institutional markets and services division. The bank will spend an extra $10 million this financial year on diversifying resources and adding staff, the Australian Financial Review reports. National Australia Bank's restructuring of its institutional banking division will provide the next leg of growth. The bank is turning its attention to growth and the marketing of new products, and expects the restructuring of its globally focused... Read more

With strong market conditions set to continue, local and international investment banks are performing well and growing their teams. The strongest demand is at associate and manager levels, says Oliver Darkes from recruitment firm Carmichael Fisher, and that demand is from all investment banks. The Australian Financial Review says, “Firms are hiring again as market and M&A activity picks up.” There is no lack of talent; instead the problem lies in getting... Read more

Employees of ABN AMRO’s Australian operations have become part owners of the company. ABN AMRO’s Australian staff are set to buy out 25% of the equity in the local business, according to The Australian. The paper says all staff at the bank have received a share of equity, with each receiving $1,000 of shares per year of service and senior staff having the option to buy more. ABN’s Australian operation is following in... Read more

Westpac Financial Planning is looking to hire an unspecified number of financial advisers, in anticipation of increased demand for professional advice, reports MoneyManagement.com. Westpac expects demand for their services to increase as a result of the superannuation changes handed down in the 2006 Federal Budget. Alongside technical skills, the company is reportedly in search of people who fit with company’s values of teamwork, integrity, and achievement.

The number of people planning to leave England has doubled in the past three years, and Australia is high on their list. The number of people planning to leave England has doubled in the past three years, and Australia is high on their list. 13 per cent of Brits surveyed by research company ICM said they wanted to leave “in the near future”, up from 7 per cent in 2003, and a... Read more

With booming conditions globally, is an MBA still required to get to the top of the pile? Richard Lyons, from executive search firm Carr Lyons, says that MBAs are more valuable at the associate level than at the assistant-director of VP level. At the associate level an MBA from a good university will separate people from the crowd. At the higher end, employers are looking more for solid experience in their... Read more

No doubt there is a fight for fund management talent in Australia. Firms are offering increased salaries, and now equity, as means to retain the scarce resource. Hunter Hall International is a good example of this trend. The fund manager has introduced an equity plan, which could see the portfolio managers emerge with more than 10% of the company, MoneyManagement.com reports. The company is also looking to introduce a profit share... Read more

RBC Capital Markets is the latest to establish an infrastructure finance team in Sydney, which was announced on Wednesday. Reuters reports that the new team of four infrastructure specialists come from Rothschilds. Who is on the new RBC team? Dominic Hudson comes on board as managing director and head of infrastructure, Stan Nikiforou as director, Tim Foy as vice president, and Matthew McKenna as manager. Salaries have been increasing in recent years,... Read more

With the finance industry increasing its pace, continual technology advancements and the race to avoid commoditisation has resulted in heavier technology investment by financial services companies. IT professionals who can execute these strategies are in high demand. Brad Capper, from search firm VTR Consulting, says there is currently strong demand in Sydney and Melbourne for developers, architects, network engineers, business analysts, project managers, and testers. Project managers, with relevant experience in a... Read more

With investment banks building their teams and boutique players growing, it is golden time to be an equity analyst. Alexandra White, from search firm Advance Search and Selection, believes there is strong demand for equity analysts on both the buy- and sellsides. Associates with at least three years experience are highly sought currently. Candidates with industry specific knowledge are also being recruited for roles in the banks. White says base salaries are... Read more

Paul Masi, as Merrill Lynch’s new chief executive officer and country head for its Australian operations, shares striking similarities to his counterpart at UBS. Announced Wednesday, Masi’s appointment is effective immediately, following Kevin Skelton stepping down from the role. Having joined Merrill Lynch in Australia in 2000, Masi was previously country co-head and head of Australasian equities before relocating to Hong Kong in 2003 to become head of Asia Pacific region equity... Read more

Although the local economy continues to grow, and company profits make new record highs, increasingly volatile market conditions may result in the need for distressed debt experts in the near future. Susan Moore, from search firm Jon Michel, says suitable candidates are thin on the ground in Australia. Those people with the required skills have either moved into other areas of finance or headed to Asia, as the Australian distressed debt... Read more

Summer is fast approaching, but if you're an accountant working in an investment bank now may be a good time to head to an increasingly chilly London or New York City. Research by recruitment firm Robert Walters shows City of London accountants can earn over 90% more than their counterparts in banks in Sydney. Marketing director Steven Edwards attributed high London pay to a shortage of skilled accountants in the City: “There... Read more

Prime brokerages are hiring in Australia as the local hedge funds industry booms and brokers jostle for business. Rick Jansz, managing consultant and head of the financial markets practice at BSI People in Sydney tells eFinancialCareers.com, “Competition to attract the brightest talent is fierce. Candidates with investment banking, hedge fund, fund or financial services backgrounds, coupled with experience with securities instruments including derivatives, equities, bonds, FX, financing, and swaps are in... Read more

Looking to spread your wings beyond Sydney? The Singaporean job market is booming. This week, Barclays Capital revealed plans to add 400 people to its Singapore business, across equity, credit, derivatives and commodities. And private banking recruitment in the island state is reaching a frenzied pitch – Credit Suisse alone reportedly plans to add 140 client relationship managers in the next 12 months. Dennis Koh, a Singapore based Managing Partner of Goshen... Read more

Which is the hottest area of Australian finance recruitment right now? Look no further than leveraged finance. With buyouts a big feature of the mergers and acquisitions scene down under this year, both foreign and domestic banks are in the market for leverage specialists as part of structured debt teams. Germany’s HypoVereinsbank and Mizuho of Japan are believed to be recruiting while another German bank, WestLB, recently hired a specialist from... Read more

One recruiter says the City of London market is crying out for Australian Real Estate Investment Trust (REIT) expertise. “The amount of hiring here is ridiculous,” says Timothy Rowe, managing director of London-based Cobalt Recruitment. “It’s a candidate-led market.” REITs are only just taking off in Europe. The United Kingdom will allow tax efficient REITs vehicles from January, while Germany’s finance minister has submitted a draft law for the introduction of REITs... Read more

A vibrant M&A market in Australia, spurred by sudden rush of private equity deals, has sparked a rush for talent in the investment banking industry, with at least one major international bank turning to the legal profession to fill senior positions. Last week, Andrew Clarke, a partner with law firm Allens Arthur Robinson, announced he had resigned to take up a role as managing director and head of M&A at Citigroup... Read more

Calling all risk management professionals Down Under! Several firms are now looking to tap Australia’s limited talent pool for experts to help manage their increased risk profile. “Australian companies are looking for very experienced people in risk analysis, quantitative analytics, law, accounting and compliance,” says Michael Markiewicz, chief executive officer of Carmichael Fisher recruiters in Sydney. “They’re all entrepreneurial companies that have had success and, with that, an increased exposure to... Read more