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The News: Opportunities Close to Home

Companies are still filling openings when they need to, but more often they're doing it from within. That's something like good news for people who'd like to keep their career moving even in the midst of the recession, but not good news for people who want to move into a new firm. CareerXRoads found 38.8 percent of all new "hires" were actually internal transfers or promotions, the highest level since the firm began its annual survey on hiring sources eight years ago. One of the company's principals, Gerry Crispin, told the recruiting site ERE.net that "critical openings" are being filled by internal moves, and the jobs left vacant after the transfer are being picked up by existing staff.

Internal Transfers Growing As Leading Source of Hire [ERE.net]

And...

Morgan Stanley is putting its money where its mouth is to keep brokers [Dealbook]

But Wachovia, not so much [InvestmentNews]

Banks would be better off if their leaders tried being honest [Daily Beast]

See, financial types would rather not work than accept lower pay. Uh huh. [NY Times]

Dubai's not looking like such a great place to work anymore [Dealbook]

RBS could eliminate 20,000 more jobs [The Guardian]

Cerberus will close its office in Hong Kong [FT]

People

Sasa Zorovic becomes MD in business services analysis for Janney Montgomery Scott [Janney via BW]

Melissa Ballenger is the new controller, principal accounting officer at MasterCard [MasterCard via PRN]

Ripal Patel jumps from UBS to Credit Suisse; Tom Scheuring to RBC Dominion [Globe & Mail]

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AUTHORMark Feffer Insider Comment

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