eFinancialCareers

Sustainable responsible investment (SRI) is getting hot along with the planet. Shame about the jobs. The latest AMP Capital SRI Median Study says the SRI median outperformed the benchmark ASX 200 index by more than 1.5% over one year, and 2% in the two years to 30 June 2007, returning a healthy 30.2% in one year, 26.7% over three years and 19.3% over five years. Little surprise, therefore, that investors are marginally... Read more

The fallout from the US sub-prime mortgage débâcle continues to be felt, with news of redundancies of up to 1,500 employees at Europe’s biggest bank, UBS. Adding to concerns, this announcement was closely followed by the sacking of two senior US executives at Merrill Lynch. The sackings have sent shock waves through the industry. However one City-based headhunter says it may be premature for those in Australia’s finance industry to hit the... Read more

The real estate recruitment market is becoming increasingly global. Australian investment bankers with property funds management and asset management expertise are currently hot property in both the UK and US. Meanwhile, property specialists are also in huge demand in Australia. "People are exporting their talent to both the UK and US markets," says Bob Atkins of Property Recruitment Australia. "Australian markets have outperformed both those markets substantially, so the skill base here... Read more

Despite recent high-profile actions launched by senior executives, the Australian banking sector is still relatively free from litigation by disgruntled employees. ANZ Bank is being sued by its former head of institutional banking, Steve Targett, for AU$2.1m for allegedly misleading him about his career prospects. Another action has been launched against the bank by its former head of mergers and acquisitions, Malcolm Hiscock, who alleges ANZ did not pay him a bonus... Read more

Forget the piles of money in Sydney and Melbourne, there are plenty of Australian bankers earning mountains in London. The huge amounts on offer in the Old Dart were illustrated by the recent case of an Aussie banker living in the UK, who claimed his employer (Dresdner Kleinwort) sacked him because he was “not German enough”. Teutonic or not, the executive is no doubt hopping mad because his annual salary of £2.2m... Read more

Most would-be bankers in Australia plan to work overseas if they can. This is the finding of a recent survey by graduate research company Universum, who asked Australia's finance graduates what they wanted from a career. They found 47% of women and 51% of men plan to make a swift exit and work overseas. They're also keen on having a life outside work – not something banks are traditionally strong on. 60%... Read more

With Japanese companies divesting assets and private equity firms swooping in, the next few years should provide good opportunities for M&A bankers in the country. According to information provider Dealogic, Japanese M&A volumes in 2006 hit US$182bn, 40% of the overall Asian market. No wonder foreign banks, including Credit Suisse, Lehman Brothers and Morgan Stanley, are adding numbers. "We are seeing strong demand for bankers at the senior vice president or... Read more

The US sub-prime mortgage crisis will have only a minor impact on the i-banking sector in Australia, says a leading analyst. Troy Angus, a portfolio manager/analyst at Paradice Investment Management, says local banks with exposure are significantly less than one per cent. "The big five domestic retail banks should be largely unaffected," he notes. That's not to say there won't be some bumps and bruises. "There might be problems with some... Read more

Who'll benefit and who won't from the chaos in the markets? Here's our considered verdict… The winners Derivatives documentation specialists Know how to settle a derivatives trade? This could be your lucky day. According to Financial News last week's trading volumes for credit derivative products were so high credit derivatives operations teams were overwhelmed. Banks may yet turn to temps to help out. Risk managers Our US site reports that hedge funds... Read more

Does chaos in the credit markets spell doomsday for jobs? "It's too soon to tell,'' says James Nicholson, director of recruiter Robert Walters. "Macquarie and BNP Paribas are two of our big clients and there have been no directives changing their hiring strategy. But, if this tumult gets worse, I would expect it to have a big effect.' Edmund Gill at recruiter Hays also says it's too soon to call, but if... Read more

Thinking of finding a new job? Have a little something to take your mind off it. Australia's financial services skills shortage is encouraging banks to offer tasty 'buyback' packages to keep stellar performers who threaten to defect. Anthony Ayers, principal consultant at Sydney-based Chandler, says the most common buybacks (AKA 'counter-offer') involve matching money – but adds they may also encompass anything from offering additional education, an offshore secondment, a promotion... Read more

They're nothing new in the northern hemisphere, but guaranteed bonuses are now available here too. 'Guaranteed bonuses' are when banks commit to paying a specified level of end-of-year bonus, rather than leaving it to your performance or the foibles of the market. From banks' perspective, they're a way of enticing scarce talent to come and work for them. Throwing in a guarantee can also prevent existing staff from leaving to work... Read more

What's the chance of Sydney becoming a global financial hub and location of choice for the ultra-mobile international banker? Not much, according to one headhunter in the city. Anthony Ayers, principal consultant at Chandler Heath Executive Search, says Australia is unlikely to rival the likes of Hong Kong in the foreseeable future: "Australia's GDP, geography, and remuneration will all hold it back," he predicts. "The country will always be constrained by... Read more