Around The World: Lay-offs in Hong Kong, Jobs in South Africa
The spectre of even more layoffs looms in Asia after HSBC announces 3,000 Hong Kong job cuts
It's been quite a shock for some, but Asia is no longer impervious to the large-scale financial job cuts that have hit the West. HSBC announced this week that it will axe up to 3,000 jobs in Hong Kong by 2013. These redundancies are mostly in support roles, including banking technology, human resources and administration.
Africa wants expatriates
If you have skills and experience and are willing to travel, Africa is the place to go. The continent has one of the fastest economic growth rates and highest returns on investment in the world, and is seen as a growth opportunity not just by developed market companies and banks but increasingly by emerging markets financial institutions.
Will there really be any hiring in 2012? What senior headhunters say about their sectors
It's too early to say with any certainty what will happen to financial services recruitment in 2012: banks are still digesting a difficult Q3 and preparing for more redundancies. Later, they will devise next year's hiring strategy - or not. However, the lack of clarity doesn't prevent senior headhunting professionals opining about the likely state of recruitment in their sectors in 2012. At this stage, their sentiments are mixed.
Who Hired in the Middle East in August?
With both Ramadan and Eid in the month of August, it's not surprising that recruitment has been slow. Nonetheless, perhaps the small number of new hires announced is indicative of a slower job market. Allen & Overy, the law firm, has taken on Samer Eido to head up its banking and finance practice in Qatar. BMI Bank, the Bahraini institution, has a new head of compliance in Sumaya Redha.
RBC Remains Among Those Banks Committed to Lower Manhattan Post 9-11
During a month when New Yorkers are acutely remembering the attacks of September 11, 2001 and its impact on the Wall Street area's business population, it's interesting to hear a Canadian bank assert its allegiance to the downtown financial district-even one as prodigious as the capital markets arm of the Royal Bank of Canada.
Editor's Take: Forget shifting after Spring bonuses - big four staff just want to stay put
The October/November bonus season is coming up for staff at Australian banks, but don't expect much movement this year after they pocket their payments. There are typically two main indicators of a lacklustre employment market: cautious candidates and a lack of vacancies. We seem to have them both for the foreseeable future. Many candidates fear the potential impact of current global economic conditions on their careers, so they are prioritising.
Count your blessings if you work in the buy side in Hong Kong
While recruitment on the sell side has been slow going with hiring freezes and job cuts, buy-side recruitment has remained buoyant in Hong Kong even in these uncertain markets. Simon Roberts, managing director, head of Asia Pacific, Sheffield Haworth, says: "The buy side still seems to have the appetite to hire in Hong Kong, we have open mandates across the long only, alternatives and private wealth space."
Goldman Sachs is not thought to be reducing its London salaries by very much at all
Good news for anyone who thought the salary reductions at Goldman Sachs were the vanguard for a wave of salary rebasing which would take base pay back to 2008 levels: salaries at the bank are rumoured to be falling by a mere 17%. This may sound a lot, but it's not when you consider that salaries at Goldman and elsewhere have doubled - or more, over the past few years.
Formulaic and robotic answers to interview questions that will get you a job at Barclays Capital
We're fast approaching the time of year when banks tour universities trying to attract the attention of the youth. In preparation for this banks have been embellishing their graduate recruitment offerings. BarCap has gone for an iPhone App dispensing advice on how to answer inevitable interview questions such as: - Why are you interested in joining an investment bank? - Can you give a useful example of a time you've shown leadership?
Chinese banks need more technical skills. Their solution: hire more foreigners
The stellar results from China's big four banks have hit the headlines recently. First-half net profits have jumped by more than 25 per cent at Agricultural Bank of China, Bank of China, Industrial and Commercial Bank of China and China Construction Bank. It's no surprise then that mainland banks have been candidate shopping, even in these downbeat times. Some firms are even looking beyond the local populace for talent.
Stuck with high permanent salaries, all sorts of banks are cutting contractor rates
Goldman is reducing its London salaries slightly, but it seems to be the only bank doing so - so far. On the other hand, all manner of banks are said to be cutting the amounts they pay contractors. First among them is UBS, which is reportedly reducing its contractor rates by 10% as part of its plan to eliminate CHF2bn of costs by 2013. RBS