eFinancialCareers

An international shortage of financial services talent is creating a brain drain from smaller markets according to one recruiter. “Whenever conditions are strong in Asia, London, or New York, analyst and associate level bankers who are seeking a more international career make the most of the opportunity to move on,” says Victoria Biggs, a consultant at Sydney-based Jon Michel Executive Search. “We are seeing a real exodus at the junior level,”... Read more

A dearth of mid-level professionals amid a general candidate crunch has made Australia even more attractive for northern hemisphere finance professionals seeking more sun, surf and sports. But recruiters say there are some critical factors to consider before you move Down Under. A global candidate shortage has driven the growth of cross-border traffic, with Australia’s talent pool being drained by opportunities offshore in Asia, London and New York. This, combined with... Read more

With a historically low unemployment rate of about 5% in Australia, the financial services sector continues to boom ahead at a great speed. That’s good news for candidates but a tougher market for employers out recruiting as the talent pool is thinner on the ground. According to Angus Price, a partner from search firm Derwent Executive, it’s not just investment banks and fund managers that are actively hiring but also corporates growing... Read more

When it comes to having a few ‘mistruths’ on your resume, or ‘inflating’ your salary to a prospective employer, don’t even let it cross your mind. These days, it is common practice for a company to run a detailed background check on an applicant. In fact, gone are the days when all a company does is contact the referees that the candidate has nominated. Angus Price, a partner from search firm... Read more

Inalytics, a provider of performance measurement products to fund managers, is building up in Australia and London. CEO Rick Di Mascio says the company plans to add staff numbers in London by 50% this year. The expansion won’t exactly be monumental however – it currently employs just eight people in the City. Longer term, additional staff may be required in the firm’s new Melbourne office, which is looking to service fund managers... Read more

While the domestic shares market continues to bubble away, there are signs that those who analyse the stocks within the market have evaporated. But with guaranteed bonuses and higher salaries back in fashion, Fiona Weeks, a consultant with Jon Michel Executive Search, says this candidate-tight market – from junior through to senior roles – has seen applicants being lured across from areas outside pure research. “If we’re looking for an infrastructure... Read more

Some market participants anticipate that client demand for multi-manager offerings could double to A$170 billion over the next five years. Consequently, this expected demand has resulted in a rise in job opportunities within the multi-manager arena. Working in a fund of funds research team as an analyst or portfolio manger differs to working in a traditional equities research team. In general, a portfolio manager in a traditional business would have worked... Read more

Last week South Australian-based Funds SA appointed Hong Kong-based Lloyd George Management to manage an Asia ex-Japan equities mandate worth A$66 million. Launched last December, the Myer Family Office is also a seed investor in Lloyd George’s Asia-ex Japan fund. Moving with the times Not only are mandates leaving our shores - international banks are looking overseas to hire high-quality candidates. “In the past, the UK and the US have been... Read more

A new survey suggests that finance and human resources staff in the UK, Australia and Ireland move overseas for the pure joy of travelling. By comparison, their counterparts in France and Germany tend to move abroad for career reasons. The survey, of 1,800 international finance and HR professionals by Robert Half International, found that 68% and 63% respectively of those surveyed in France and Germany cited a career move as the... Read more

Solicitors say UK government plans to introduce a new points-based immigration system will make it easier for non-EU financial services employees to work in the country. Julia Onslow Cole, a partner at law firm CMS Cameron McKenna, says in future most banking employees will be able to enter the UK without lining up a job in advance. Under the new system, migrants who amass more than 75 points after meeting a... Read more

Bankers are sitting on a profit of more than $25bn (€21bn) on their share options on the back of the meteoric rise in financial stock prices on both sides of the Atlantic over the past 12 months. The recovery in banking stocks has left staff at the biggest US and European banks with share options worth a total of almost $100bn at the start of this year. Figures compiled by Financial... Read more

After a surprising last minute rally, 52% of over 400 respondents to last week’s eFinancialCareers poll voted Macquarie Bank a heavyweight player in the London market. The result has left us a little mystified. OK, so Macquarie Bank may be in the running for the London Stock Exchange and may be a big force in the world of infrastructure investments, but Thomson Financial tells us the Australian bank ranked only 27... Read more