Japan Continues To Lose IT Jobs To Singapore And Hong Kong [Singapore]
Although IT roles at banks in Japan are still moving to Singapore and Hong Kong, some recruiters see new opportunities in Tokyo for techies.
UBS Has Actually Reduced Headcount in the Middle East [Middle East]
While it's shaken up its top brass in the Middle East and is waxing lyrical about the region's growth potential, UBS has yet to kick-start the long-awaited expansion. The bank's 127 employees in the region as of June reflects an 11 percent decline versus a year ago.
So, That's It For Rates Hiring Then [UK]
Banks' second quarter results made it amply clear that any prospect of further expanding their rates businesses is dissipating. Headhunters in the area say most rates recruitment is now complete. Still, rumor has it that banks like BNP and RBS are still open to good hires in rates sales.
Don't Bet On Big Fund Management Hiring, Unfortunately [Australia]
Investment managers are back in the black, yet it doesn't appear that this success is translating into significant additional recruitment. The majority of fund managers are replacing key staff who leave, but they're not expanding, observes John Coles, CEO of Executive Group International.
China Career Update: Commercial Banks Need Staff To Boost New Business Lines [Singapore]
Large Chinese commercial banks are trying to diversify their balance sheets, which means they also have to take on new staff within emerging business lines. Although these state-backed institutions have long relied on internal channels or even government appointment to fill senior-level openings, recently they have been recruiting externally.
Who Won and Who Lost in IBD and Overall in The Second Quarter? (Answer: Goldman Lost) [UK]
Figures compiled by Nomura analysts show Goldman is still faring atrociously for overall revenue trends. In the second quarter, it suffered the biggest revenue drop (51 percent) of any of the banks to report so far. By comparison, Morgan Stanley, Credit Suisse and UBS, all did well, both in IBD and across the board, and both on a quarterly and an annual basis.
Actually, There Are Still Front Office Jobs, It's Just That No One Wants To Pay Guarantees [UK]
The only problem with hiring aspirations we're hearing from BarCap, RBS, Citigroup and other institutions is that in the current climate no one's really willing to stump up the cash required to buy people out from now on. "RBS want to hire in equities, but they're only willing to pay base salaries," alleges one equities headhunter.