Around the World: HSBC Canada still hiring; BarCap London may cut pay
HSBC Canada: Still Hiring and Growing Despite Potential Sale
Although HSBC Holdings PLC has confirmed the possible sale of its full-service Canadian investment advisory unit, an HSBC Canada official tells eFinancialCareers that the bank remains committed to growing its Canadian businesses-including pieces of the wealth management operation which, she said, are absolutely not up for sale.
[Canada]
Why BarCap may be next to reduce salaries
Goldman Sachs has reduced salaries in London, having wisely made a provision to do so in its contracts. Will BarCap be next? Headhunters and rival bankers who have encountered BarCap's contracts say that when the bank increased its salaries in late 2009, it did so by means of a non-pensionable 'additional fixed payment' which is not part of salary per se.
[UK]
The ups and downs of recruiting RMs in second-tier Chinese cities
Foreign banks are speeding up their expansion into second- and third-tier cities in China. Recently, for example, Citibank and BEA have set up branches in Hunan province: There are job openings across 13 departments in BEA alone. But when banks need relationship managers in regional centres, a small talent pool can hamper their hiring. [Hong Kong]
In 5 years, the number of new middle and back office jobs in London has fallen 60%
At least this is the implication of Morgan McKinley's new figures out today. The recruiter, which mostly operates in the middle and back office, thinks there were 4,095 jobs available in London in August. Five years ago, in August 2006, it thought there were 9,639.
[UK]
Canadian Finance & Accounting Execs Are Bullish On Fourth-Quarter Hiring
Asked about their hiring plans for the fourth quarter of this year, a net 29 per cent of Canadian executives in the finance, insurance and real estate sector said they anticipate staff additions. The retail industry ranked second, with a net 24 per cent of executives expecting to hire in the next three months, says recruiter Robert Half International.
[Canada]
Tricky interview question: When you run, do you take the same route every day, or a different one?
The following took place during an interview for an equities trade support position at a global investment bank in Australia... The question The interviewer asked me what my interests were outside of work. I casually mentioned a few things, such as travelling, reading, camping and running. When I said running he fixed me with a look and said: "Ah, so when you run, do you take the same route every time or a different route?"
HR INSIDER: These nationalization targets are hurting both locals and banks
Companies across the Middle East are under pressure to hire and promote locals, but someone has to say it: UAE nationals aren't up to senior roles. It's not their fault. Not enough effort has been put into developing them. The Middle East banking sector has traditionally been reliant on a Westerners who have the skill to run large organizations, but that well is running dry.
Q&A with OCBC's Allison Koh, assistant vice president, global treasury
China Koh is an assistant vice president with the asset liability management team in OCBC China's global treasury office. She joined the firm as a management associate (MA) in July 2007 after graduating from the International University of Japan's MBA programme. Prior to this, Koh was an associate banker with a foreign bank. [Hong Kong]
