eFinancialCareers

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

Plenty of Australian businesses are listed on London’s Alternative Investment Market (AIM). With others being encouraged to do the same, demand for equity capital markets relationship managers with Oz connections may follow. “I would say that’s a natural progression,” says Chris Rollason, director of corporate finance at Collins Stewart in London. “Ever since the introduction of the fast track rules there is an increasing attraction to Australian countries, which indicates there... Read more

When the going gets tough, wannabe bankers start showing their moves. Over the past few weeks the global financial community has been following one UBS candidate’s innovative approach to nabbing a job. His was no ordinary application – it featured an 11 page CV and a sharply edited video featuring him ballroom dancing, breaking bricks with his bare hands. Observers are treated to nuggets of wisdom like ‘To achieve success you... Read more

Bankers on Wall Street and in the City of London are expecting bumper bonuses this year. How does the Sydney market compare? Quite well, seems to be the answer. Australia may have a market cap of just US$854bn – 20 times smaller than the US, but our research suggests financial services salaries in the market punch above their weight. According to the office of New York State Comptroller, Alan Hevesi, finance... Read more

Australia’s banks have been quietly trying to hire more women, but the industry is still a bastion of masculinity. “We have some employers who are still concerned that their executive ranks remain something of a boys club,” says Matthew Gowan, a Melbourne-based specialist in banking at recruitment group Hays. “They say if they have male and female candidates of the same quality, then they may pick the female to balance things... Read more

There are 18 much richer Australians this week, and it’s not down to a lottery win. Goldman Sachs JBWere has promoted18 people to become Australian managing directors (MDs) - nearly doubling the 22 it had. Rumour has it they’ll each be on at least US$1.5m (AU$2.0m). What's going on? Craig Drummond, Chief Operating Officer at Goldman Sachs JBWere Sydney says the appointments "reflect the depth of talent and the significant contribution... Read more

Investment banks aren’t best known as cuddly employers. But when it comes to flexible working arrangements, even high-powered financiers are getting more leeway these days. Take UBS for example, which offers its employees a whole range of flexible alternatives, from the ability to work from home on some days, to staggered hour arrangements, job sharing, and part-time options. Mike Davies, UBS’s head of human resources, says workers at all levels are... Read more

What if you're not satisfied when you get your bonus? Could you negotiate for more? Success is rare, and it could be a dangerous path to pursue. “In 20 years at Goldman, I never once saw anyone renegotiate their bonus after it had been announced, ever,” says one ex-head of department at the bank, which is paying US$16bn in bonuses this year. “Bonuses are decided in October and it’s not done... Read more

Have visa, will travel. The US has emerged as yet another destination for travel-hungry Australian finance professionals, adding to the talent shortage that is plaguing the country in the accounting and financial markets. The signing last year of the Australia-US Free Trade Agreement means that young Australian professionals no longer need to enter the green card lottery to gain visas to the US. Instead, the E-3 visa programme has been expanded... Read more

ANZ Bank is about to embark on a major hiring program to support its expansion into Asia. Other banks are expected to follow close on its heels. ANZ CEO John McFarlane is behind the new push into Asia, and said that in the New Year the bank will launch a recruitment drive aimed at the postgraduate market. “We’re looking to recruit a substantial number of graduates with Asian language skills or... Read more

What was hot and what was not in the Australian financial services industry over the past twelve months? Here’s our considered opinion. Good Year Private Equity: This has been the year of the mega-deal in private equity, with seven AU$1bn plus transactions, topped off with the AU$11bn bid for Qantas. Big overseas funds such as KKR, CCMP, and TPG all set-up shop in Australia, while smaller Australian funds such as PEP, Archer Capital,... Read more

Australia’s banking and finance sector had a storming time in 2006. Where will the hot and cold spots be in 2007? Here’s our verdict. Going up: • Salaries and bonuses After a bountiful 2006, expectations are that the bonuses paid out in the first few months of this year will be significantly up. Macquarie pays bonuses around June and with profits up 51% in the six months to September, chances of the... Read more

Be prepared to make up your mind quickly – Australia’s banking and finance companies will now offer jobs as little as 48 to 72 hours after interview. Debbie Loveridge, managing director of Select Australasia, tells us the amount of time it takes banks to hire is being slashed as they compete for talent in a tight market. A year ago, she says mid-ranking admin staff in banks would wait two or... Read more

Ever wanted to go back and work somewhere you’ve worked before? Australia’s banks and accounting firms are implementing corporate alumni programmes. In current tight market conditions it’s all part of a move to regain employees who’ve left to work elsewhere. “Mature-age people might leave a job for another opportunity or a change of environment, but may later be willing to consider a return to the security and rewards of a familiar role,”... Read more

The lure of high-paid, tax-free work in Dubai is proving too much to resist for some Australian bankers. It’s a long way from Australia to the Middle East, but Rick Jansz, BSI People managing consultant for IT and financial markets, says candidates who might previously have moved to Asia are now considering Dubai, thanks to alluring pay and the range of jobs on offer. Tax-free packages of US$250k plus bonus are... Read more