Around the World: Recruiters Still Struggle to Fill Financial Positions in Asia

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Struggling to fill jobs

International banks are starting new Dubai operations …a nd hiring wealth managers

The fact that U.S. securities firm Jefferies has opened a new office in the DIFC could be viewed as a tentative vote of confidence for investment banking prospects in the Gulf. However, much like many other international firms, its main motivation is to tap into the vast pool of wealth in the region. [Middle East]

Eight ways in which the European Union would like to curtail investment banking pay more heavily, soon

Despite the fact that the European Union already has the most punitive investment banking pay restrictions in the world, machinations are afoot in the European Parliament to make the restrictions even more punitive still. [Norway]

Mainland returnees: It’s still a struggle to land a job

A recent Shanghai Daily article reported on the difficulties that some overseas Chinese graduates face in getting a job upon returning to the mainland. Although the report isn’t financial-sector specific, it makes this point: “A certificate from a foreign institution isn’t a gold-plated guarantee; many companies are finding local graduates with work experience are better candidates. And some overseas institutions have been found to be diploma mills, since their returning graduates have neither a good grasp of basic English or their chosen field.” [Hong Kong]

Every UK recruitment consultant at Michael Page makes £24k profit

Profits from UK banking recruitment are down 50 percent on last year. You may be wondering how financial services recruiters are faring. The picture is blurred, but two things are clear. Firstly: London financial services recruiters are losing their jobs. Secondly: London financial services recruiters will probably be earning a lot less this year. [UK]

Hot tip for ensuring your future employability in Russia: become an IFRS accountant

If you’re working in financial services in Russia and are wondering how to make sure you are never out of work, now is the time to learn all about IFRS (International Financial Reporting Standards). [Russia]

Why it’s still tough retaining financial services people in Asia – yes, even in this market

People in banking and finance aren’t leaving their jobs in droves in the current economic climate. Cindy Tan, director, Captiv8 Talent, says most employees won’t voluntarily resign, unlike in the same period last year when the outlook was rosier. That said, there are still people in Asia who are thinking of quitting even if they haven’t actually done so yet. This then begs the question "why?" [China]

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